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

Kornit Digital Ltd. (NASDAQ:KRNT) has received an average recommendation of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $33.40.

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

Institutional Investors Weigh In On Kornit Digital

Several institutional investors and hedge funds have recently made changes to their positions in KRNT. LHM Inc. bought a new position in Kornit Digital in the 2nd quarter valued at approximately $12,042,000. Assenagon Asset Management S.A. lifted its holdings in shares of Kornit Digital by 421.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 470,674 shares of the industrial products company’s stock valued at $14,567,000 after purchasing an additional 380,392 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Kornit Digital by 138.2% during the fourth quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company’s stock valued at $19,867,000 after purchasing an additional 372,443 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of Kornit Digital during the third quarter valued at $8,887,000. Finally, Riverbridge Partners LLC increased its holdings in Kornit Digital by 21.1% in the 4th quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company’s stock worth $59,643,000 after buying an additional 335,713 shares in the last quarter. Institutional investors own 92.76% of the company’s stock.

Kornit Digital Price Performance

Shares of KRNT opened at $30.34 on Wednesday. Kornit Digital has a one year low of $13.59 and a one year high of $34.28. The company has a 50-day simple moving average of $31.28 and a two-hundred day simple moving average of $24.46. The firm has a market capitalization of $1.44 billion, a PE ratio of -34.48 and a beta of 2.01.

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