KRNT - Kornit scales 19% on Q3 guidance and upbeat Q2 authorized $75M buyback

Kornit ( KRNT ) stock surges 19% on Wednesday due to Q2 beat on top and bottom line with revenue at $58.14M, beating consensus by $0.14M .

GAAP operating loss of $24.9 million; Non-GAAP operating loss of $18.3 million, net of $4.5 million attributed to the non-cash impact of warrants

Non-GAAP EPS of -$0.31 beats consensus by $0.02 .

Board of Directors approves $75M share repurchase program

Industry veteran Lauri Hanover to join Kornit executive management team as CFO; since March 2015, Ms. Hanover has served as a member of the Company’s Board of Directors.

Company expects revenue to be in the range of $66M-70M ( vs. consensus $68.75M ); non-GAAP operating margins to be in the range of -15% to -11% of revenue; EBITDA Margins to be in the range of -12% to -8%

Company has a Quant rating of Strong Sell and with least factor grades given to momentum.

SA warns that the stock is at a high risk of performing badly as it is overpriced and has decelerating momentum when compared to other industrials stocks.

Contributor rating of sell with commentary: ' Kornit Digital: Total Disaster - Sell '

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