Kornit Digital Ltd. (NASDAQ:KRNT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have been given an average rating of “Moderate Buy” by the five brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $33.40.

Several research analysts have issued reports on KRNT shares. Needham & Company LLC raised their target price on Kornit Digital from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Craig Hallum raised their price objective on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Cantor Fitzgerald began coverage on shares of Kornit Digital in a report on Tuesday, November 26th. They set an “overweight” rating and a $39.00 target price for the company. Barclays lifted their price target on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley upped their price objective on Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th.

Hedge Funds Weigh In On Kornit Digital

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in shares of Kornit Digital by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock worth $235,000 after acquiring an additional 1,184 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its holdings in shares of Kornit Digital by 21.0% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 243,814 shares of the industrial products company’s stock valued at $3,569,000 after purchasing an additional 42,383 shares during the last quarter. Signaturefd LLC grew its position in shares of Kornit Digital by 29.4% during the second quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 779 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Kornit Digital in the second quarter worth about $40,000. Finally, Privium Fund Management B.V. purchased a new stake in shares of Kornit Digital in the second quarter worth about $159,000. Institutional investors own 92.76% of the company’s stock.

Kornit Digital Stock Up 1.5 %

Shares of KRNT stock opened at $32.60 on Friday. The firm has a market capitalization of $1.55 billion, a PE ratio of -37.05 and a beta of 2.01. The company has a 50 day moving average price of $29.04 and a 200-day moving average price of $22.01. Kornit Digital has a 52 week low of $13.59 and a 52 week high of $34.28.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The business had revenue of $50.73 million during the quarter, compared to analyst estimates of $50.44 million. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The company’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) EPS. Analysts anticipate that Kornit Digital will post -0.22 earnings per share for the current year.

Kornit Digital Company Profile

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.