Kornit Digital (NASDAQ:KRNT) Now Covered by Analysts at Cantor Fitzgerald

Investment analysts at Cantor Fitzgerald assumed coverage on shares of Kornit Digital (NASDAQ:KRNT) in a report released on Tuesday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $39.00 price target on the industrial products company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 22.03% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. Needham & Company LLC lifted their price target on Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. StockNews.com raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Barclays lifted their price target on shares of Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Craig Hallum upped their price target on Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Morgan Stanley lifted their price objective on Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Kornit Digital Trading Up 2.0 %

Shares of KRNT opened at $31.96 on Tuesday. The firm has a market cap of $1.52 billion, a PE ratio of -36.32 and a beta of 1.93. The company’s 50 day simple moving average is $26.34 and its 200-day simple moving average is $19.82. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $33.00.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. The firm had revenue of $50.73 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.17) EPS. As a group, equities research analysts forecast that Kornit Digital will post -0.2 EPS for the current fiscal year.

Institutional Trading of Kornit Digital

Several institutional investors and hedge funds have recently made changes to their positions in KRNT. Tidal Investments LLC raised its stake in Kornit Digital by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 37,365 shares of the industrial products company’s stock valued at $965,000 after purchasing an additional 1,651 shares during the last quarter. Barclays PLC lifted its stake in shares of Kornit Digital by 130.1% during the third quarter. Barclays PLC now owns 20,420 shares of the industrial products company’s stock valued at $527,000 after buying an additional 11,544 shares during the period. Meros Investment Management LP lifted its stake in shares of Kornit Digital by 19.2% during the third quarter. Meros Investment Management LP now owns 276,040 shares of the industrial products company’s stock valued at $7,131,000 after buying an additional 44,456 shares during the period. Geode Capital Management LLC grew its stake in Kornit Digital by 15.3% in the 3rd quarter. Geode Capital Management LLC now owns 83,229 shares of the industrial products company’s stock worth $2,150,000 after acquiring an additional 11,049 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its stake in shares of Kornit Digital by 2.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,113,832 shares of the industrial products company’s stock worth $54,611,000 after purchasing an additional 53,257 shares during the period. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

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.