Kornit Digital Ltd. (NASDAQ:KRNT) Receives Average Rating of “Moderate Buy” from Analysts

Kornit Digital Ltd. (NASDAQ:KRNT) has been assigned an average rating of “Moderate Buy” from the four brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $29.00.

Several research analysts recently issued reports on the stock. Barclays increased their price target on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Craig Hallum upped 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. Needham & Company LLC raised their price objective on shares of Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Cantor Fitzgerald began coverage on shares of Kornit Digital in a report on Tuesday. They issued an “overweight” rating and a $39.00 target price for the company. Finally, Morgan Stanley upped their price target on Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, September 13th.

Kornit Digital Stock Up 2.0 %

Shares of NASDAQ KRNT opened at $31.96 on Tuesday. The business has a 50-day moving average price of $26.34 and a 200 day moving average price of $19.82. The stock has a market cap of $1.52 billion, a PE ratio of -36.32 and a beta of 1.93. Kornit Digital has a 52-week low of $13.59 and a 52-week high of $33.00.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The firm had revenue of $50.73 million during the quarter, compared to analysts’ expectations of $50.44 million. During the same quarter in the prior year, the business earned ($0.17) EPS. Kornit Digital’s quarterly revenue was down 14.3% compared to the same quarter last year. Sell-side analysts anticipate that Kornit Digital will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.