Kornit Digital’s (KRNT) Overweight Rating Reaffirmed at Cantor Fitzgerald

Kornit Digital (NASDAQ:KRNT)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research note issued on Thursday,Benzinga reports. They currently have a $39.00 price objective on the industrial products company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 34.60% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Craig Hallum boosted their price target on shares of Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC increased their price objective on Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley upped their target price on shares of Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Kornit Digital Price Performance

NASDAQ:KRNT traded down $0.19 during mid-day trading on Thursday, reaching $28.98. 128,299 shares of the company’s stock traded hands, compared to its average volume of 231,787. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $34.28. The company has a 50 day moving average price of $30.67 and a 200-day moving average price of $26.06. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -32.93 and a beta of 2.02.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. As a group, analysts forecast that Kornit Digital will post -0.22 EPS for the current year.

Hedge Funds Weigh In On Kornit Digital

Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its holdings in shares of Kornit Digital by 654.5% during the fourth quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 1,800 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Kornit Digital by 29.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 110,465 shares of the industrial products company’s stock worth $3,419,000 after acquiring an additional 25,446 shares in the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of Kornit Digital in the fourth quarter worth $942,000. Trexquant Investment LP increased its stake in Kornit Digital by 27.3% in the 4th quarter. Trexquant Investment LP now owns 188,307 shares of the industrial products company’s stock worth $5,828,000 after buying an additional 40,422 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Kornit Digital by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 85,167 shares of the industrial products company’s stock valued at $2,636,000 after acquiring an additional 1,938 shares during the period. Hedge funds and other institutional investors own 92.76% of the company’s stock.

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.