Cantor Fitzgerald Begins Coverage on Kornit Digital (NASDAQ:KRNT)

Cantor Fitzgerald started coverage on shares of Kornit Digital (NASDAQ:KRNT) in a research report issued on Tuesday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $39.00 price target on the industrial products company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 22.03% from the company’s current price.

Several other brokerages have also issued reports on KRNT. Morgan Stanley boosted their price objective on shares of Kornit Digital from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Needham & Company LLC boosted their target price on Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Craig Hallum upped their price target on Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. StockNews.com raised Kornit Digital from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Barclays increased their target price on 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 four have given a buy rating to the stock. According to MarketBeat.com, Kornit Digital currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Kornit Digital Trading Up 2.0 %

Kornit Digital stock opened at $31.96 on Tuesday. The stock has a market cap of $1.52 billion, a P/E ratio of -36.32 and a beta of 1.93. The company has a 50-day moving average price of $26.34 and a 200 day moving average price of $19.82. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $33.00.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. The firm 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%. The business’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.17) EPS. As a group, analysts forecast that Kornit Digital will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Kornit Digital

Large investors have recently bought and sold shares of the stock. Tidal Investments LLC increased its holdings in Kornit Digital by 4.6% in the third quarter. Tidal Investments LLC now owns 37,365 shares of the industrial products company’s stock valued at $965,000 after buying an additional 1,651 shares during the last quarter. Barclays PLC raised its holdings in 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 purchasing an additional 11,544 shares in the last quarter. Meros Investment Management LP lifted its position in shares of Kornit Digital by 19.2% during the 3rd quarter. Meros Investment Management LP now owns 276,040 shares of the industrial products company’s stock worth $7,131,000 after buying an additional 44,456 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Kornit Digital by 15.3% in the 3rd 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 last quarter. Finally, Disciplined Growth Investors Inc. MN raised its stake in Kornit Digital by 2.6% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors 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.