Kornit Digital (NASDAQ:KRNT) Rating Increased to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Kornit Digital (NASDAQ:KRNT) to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

KRNT has been the subject of a number of other research reports. Craig Hallum upped their price objective on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC increased their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley lifted their price objective on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Kornit Digital has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Kornit Digital Stock Performance

Shares of NASDAQ:KRNT opened at $24.83 on Thursday. Kornit Digital has a one year low of $13.59 and a one year high of $34.28. The company has a 50-day simple moving average of $29.46 and a 200-day simple moving average of $26.82. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -70.94 and a beta of 2.02.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. As a group, research analysts forecast that Kornit Digital will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Kornit Digital

Several institutional investors have recently modified their holdings of KRNT. Assenagon Asset Management S.A. raised its holdings in Kornit Digital by 238.7% during the third quarter. Assenagon Asset Management S.A. now owns 90,282 shares of the industrial products company’s stock worth $2,332,000 after purchasing an additional 63,629 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Kornit Digital by 74.1% during the third quarter. Harbor Capital Advisors Inc. now owns 140,071 shares of the industrial products company’s stock worth $3,619,000 after purchasing an additional 59,605 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Kornit Digital in the third quarter worth approximately $934,000. Privium Fund Management B.V. increased its stake in Kornit Digital by 8.8% during the third quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company’s stock worth $305,000 after acquiring an additional 950 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new position in Kornit Digital in the third quarter valued at approximately $2,523,000. Hedge funds and other 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.