Craig Hallum Issues Positive Forecast for Kornit Digital (NASDAQ:KRNT) Stock Price

Kornit Digital (NASDAQ:KRNT) had its price target raised by Craig Hallum from $27.00 to $33.00 in a report released on Thursday,Benzinga reports. Craig Hallum currently has a buy rating on the industrial products company’s stock.

A number of other equities analysts have also issued reports on the company. Barclays raised their price target on Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Needham & Company LLC boosted their price objective on shares of Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Morgan Stanley raised their price objective on Kornit Digital from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Kornit Digital currently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Kornit Digital Stock Performance

Kornit Digital stock traded up $0.05 during midday trading on Thursday, hitting $30.47. 230,680 shares of the company were exchanged, compared to its average volume of 369,860. The firm has a market capitalization of $1.45 billion, a PE ratio of -29.53 and a beta of 1.93. The business has a fifty day simple moving average of $23.62 and a two-hundred day simple moving average of $18.46. Kornit Digital has a fifty-two week low of $13.59 and a fifty-two week high of $31.19.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $50.73 million for the quarter, compared to the consensus estimate of $50.44 million. Kornit Digital had a negative net margin of 23.63% and a negative return on equity of 3.22%. Kornit Digital’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.17) earnings per share. As a group, equities analysts expect that Kornit Digital will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On Kornit Digital

Several institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC raised its holdings in Kornit Digital by 97.9% during the first quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock valued at $38,000 after buying an additional 1,027 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Kornit Digital in the second quarter worth about $40,000. Signaturefd LLC lifted its position in shares of Kornit Digital by 29.4% during the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 779 shares during the last quarter. Privium Fund Management B.V. bought a new stake in Kornit Digital during the 2nd quarter valued at approximately $159,000. Finally, Bank of New York Mellon Corp grew its holdings in Kornit Digital by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock valued at $235,000 after buying an additional 1,184 shares during the last quarter. 92.76% of the stock is currently owned by institutional investors and hedge funds.

About Kornit Digital

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. Its solutions include digital printing systems, ink and other consumables, associated software, and value-added services.