Kornit Digital Ltd. (NASDAQ:KRNT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have earned an average recommendation of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $31.00.

Several equities research analysts have recently weighed in on KRNT shares. Barclays increased their price target on Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. Morgan Stanley raised their price target on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Craig Hallum upped their price objective on shares of Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Cantor Fitzgerald assumed coverage on shares of Kornit Digital in a research report on Tuesday, November 26th. They set an “overweight” rating and a $39.00 price objective for the company. Finally, StockNews.com upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Thursday, August 8th.

Institutional Investors Weigh In On Kornit Digital

A number of large investors have recently bought and sold shares of KRNT. Kennedy Capital Management LLC boosted its position in shares of Kornit Digital by 26.6% during the 1st quarter. Kennedy Capital Management LLC now owns 95,581 shares of the industrial products company’s stock worth $1,732,000 after purchasing an additional 20,067 shares in the last quarter. California State Teachers Retirement System grew its stake in Kornit Digital by 9.9% in the first quarter. California State Teachers Retirement System now owns 55,682 shares of the industrial products company’s stock valued at $1,009,000 after acquiring an additional 5,005 shares during the period. Tidal Investments LLC bought a new stake in shares of Kornit Digital during the first quarter valued at approximately $664,000. Moody National Bank Trust Division raised its position in shares of Kornit Digital by 19.6% during the second quarter. Moody National Bank Trust Division now owns 51,386 shares of the industrial products company’s stock worth $752,000 after purchasing an additional 8,405 shares during the period. Finally, Thompson Investment Management Inc. lifted its holdings in shares of Kornit Digital by 11.9% in the 2nd quarter. Thompson Investment Management Inc. now owns 585,332 shares of the industrial products company’s stock worth $8,569,000 after purchasing an additional 62,045 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors and hedge funds.

Kornit Digital Price Performance

Shares of NASDAQ KRNT opened at $31.64 on Tuesday. The company has a 50 day simple moving average of $27.11 and a 200 day simple moving average of $20.39. Kornit Digital has a 1 year low of $13.59 and a 1 year high of $33.00. The firm has a market cap of $1.50 billion, a PE ratio of -35.95 and a beta of 1.93.

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

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.