Kornit Digital Ltd. (NASDAQ:KRNT) Given Consensus Rating of “Buy” by Brokerages

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have been assigned an average rating of “Buy” from the five brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $34.00.

Several research firms have issued reports on KRNT. Needham & Company LLC upped their price objective on Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald raised Kornit Digital to a “strong-buy” rating in a research report on Thursday, February 27th. Morgan Stanley upped their target price on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, Craig Hallum upped their target price on Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Kornit Digital Stock Down 0.4 %

NASDAQ:KRNT opened at $22.93 on Thursday. The stock’s 50 day moving average price is $28.64 and its two-hundred day moving average price is $27.05. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -65.51 and a beta of 2.02. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $34.29.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. Equities research analysts expect that Kornit Digital will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Kornit Digital

Institutional investors and hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp grew its position in Kornit Digital by 23.4% during the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock worth $64,000 after buying an additional 393 shares in the last quarter. Russell Investments Group Ltd. grew its position in 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 worth $64,000 after buying an additional 1,800 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Kornit Digital by 35.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock worth $117,000 after buying an additional 988 shares in the last quarter. Deutsche Bank AG grew its position in Kornit Digital by 31.5% during the fourth quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company’s stock worth $148,000 after buying an additional 1,143 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Kornit Digital during the fourth quarter worth approximately $159,000. Institutional investors and hedge funds 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.