Needham & Company LLC Forecasts Strong Price Appreciation for Kornit Digital (NASDAQ:KRNT) Stock

Kornit Digital (NASDAQ:KRNT) had its price objective raised by research analysts at Needham & Company LLC from $27.00 to $31.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 1.74% from the company’s current price.

A number of other analysts have also recently weighed in on KRNT. Morgan Stanley boosted their target price on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. StockNews.com raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Craig Hallum boosted their target price on shares of Kornit Digital from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Barclays boosted their target price on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Kornit Digital Stock Up 0.2 %

Shares of NASDAQ KRNT traded up $0.05 during midday trading on Thursday, reaching $30.47. The company’s stock had a trading volume of 230,680 shares, compared to its average volume of 277,628. The business’s 50 day moving average price is $23.86 and its two-hundred day moving average price is $18.56. Kornit Digital has a fifty-two week low of $13.59 and a fifty-two week high of $31.19.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The business had revenue of $50.73 million for the quarter, compared to analysts’ expectations of $50.44 million. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The firm’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) earnings per share. On average, equities research analysts expect that Kornit Digital will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of Kornit Digital

Institutional investors have recently modified their holdings of the business. Tidal Investments LLC bought a new stake in shares of Kornit Digital in the first quarter worth $664,000. William Blair Investment Management LLC lifted its holdings in Kornit Digital by 4.0% in the first quarter. William Blair Investment Management LLC now owns 931,706 shares of the industrial products company’s stock valued at $16,883,000 after buying an additional 35,930 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Kornit Digital by 217.0% in the second quarter. Harbor Capital Advisors Inc. now owns 80,466 shares of the industrial products company’s stock valued at $1,178,000 after buying an additional 55,086 shares during the period. Tectonic Advisors LLC acquired a new position in Kornit Digital in the third quarter valued at $705,000. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in Kornit Digital by 5.7% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,060,575 shares of the industrial products company’s stock valued at $30,167,000 after buying an additional 111,971 shares during the period. Institutional investors own 92.76% of the company’s stock.

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.