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

Kornit Digital Ltd. (NASDAQ:KRNT) has received an average rating of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $33.40.

A number of research firms have weighed in on KRNT. Cantor Fitzgerald began coverage on Kornit Digital in a report on Tuesday, November 26th. They set an “overweight” rating and a $39.00 price objective on the stock. Needham & Company LLC upped their price target 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 lifted their price objective on Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barclays upped their target price 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. Finally, Morgan Stanley lifted their price target on shares of Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, December 16th.

Kornit Digital Trading Up 1.6 %

KRNT opened at $29.48 on Wednesday. The stock has a market cap of $1.40 billion, a PE ratio of -33.50 and a beta of 2.01. Kornit Digital has a 1 year low of $13.59 and a 1 year high of $34.28. The stock’s 50 day simple moving average is $31.35 and its 200-day simple moving average is $24.04.

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 $0.07 by $0.04. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The company 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 company posted ($0.17) EPS. The business’s revenue was down 14.3% on a year-over-year basis. Equities analysts forecast that Kornit Digital will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kornit Digital

A number of institutional investors have recently modified their holdings of KRNT. Chicago Capital LLC increased its holdings in shares of Kornit Digital by 8.1% in the third quarter. Chicago Capital LLC now owns 3,089,263 shares of the industrial products company’s stock valued at $79,811,000 after purchasing an additional 231,659 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position in shares of 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. William Blair Investment Management LLC lifted its stake in shares of Kornit Digital by 6.0% during the second quarter. William Blair Investment Management LLC now owns 987,863 shares of the industrial products company’s stock valued at $14,462,000 after acquiring an additional 56,157 shares during the period. LHM Inc. bought a new position in Kornit Digital in the second quarter valued at about $12,042,000. Finally, Polar Asset Management Partners Inc. increased its position in Kornit Digital by 35.7% in the third quarter. Polar Asset Management Partners Inc. now owns 621,043 shares of the industrial products company’s stock worth $16,045,000 after purchasing an additional 163,543 shares during the period. 92.76% of the stock is owned by institutional investors.

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.