Cantor Fitzgerald Reiterates “Overweight” Rating for Kornit Digital (NASDAQ:KRNT)

Kornit Digital (NASDAQ:KRNT)‘s stock had its “overweight” rating reissued by analysts at Cantor Fitzgerald in a research note issued on Thursday,Benzinga reports. They currently have a $39.00 price target on the industrial products company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 41.30% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Needham & Company LLC raised their target price on Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday. Craig Hallum increased their price target on Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Morgan Stanley increased their price target on Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Kornit Digital Price Performance

NASDAQ KRNT opened at $27.60 on Thursday. The business has a 50 day simple moving average of $30.50 and a 200 day simple moving average of $26.18. Kornit Digital has a one year low of $13.59 and a one year high of $34.28. The stock has a market capitalization of $1.31 billion, a P/E ratio of -31.36 and a beta of 2.02.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing the consensus estimate 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%. Equities analysts expect that Kornit Digital will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KRNT. Loomis Sayles & Co. L P lifted its holdings in shares of Kornit Digital by 259.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company’s stock valued at $38,300,000 after purchasing an additional 893,463 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Kornit Digital in the fourth quarter valued at approximately $14,769,000. Assenagon Asset Management S.A. lifted its holdings in shares of Kornit Digital by 421.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 470,674 shares of the industrial products company’s stock valued at $14,567,000 after purchasing an additional 380,392 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Kornit Digital by 138.2% in the fourth quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company’s stock valued at $19,867,000 after purchasing an additional 372,443 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its holdings in shares of Kornit Digital by 47.2% in the fourth quarter. Hood River Capital Management LLC now owns 1,099,725 shares of the industrial products company’s stock valued at $34,036,000 after purchasing an additional 352,648 shares in the last quarter. 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.