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

Kornit Digital Ltd. (NASDAQ:KRNT) has received an average recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $33.40.

A number of equities research analysts have issued reports on the company. Morgan Stanley upped their price objective on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Barclays raised their price target on Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Cantor Fitzgerald initiated 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 on the stock. Craig Hallum increased their target price 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. Finally, Needham & Company LLC lifted their price target on shares of Kornit Digital from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Institutional Investors Weigh In On Kornit Digital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KRNT. Tectonic Advisors LLC bought a new stake in shares of Kornit Digital during the third quarter valued at approximately $705,000. Loomis Sayles & Co. L P bought a new position in Kornit Digital in the third quarter worth approximately $8,887,000. Principal Financial Group Inc. purchased a new position in Kornit Digital during the 3rd quarter worth $934,000. Telemark Asset Management LLC bought a new stake in Kornit Digital during the 3rd quarter valued at $1,033,000. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in shares of Kornit Digital by 5.7% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,060,575 shares of the industrial products company’s stock worth $30,167,000 after buying an additional 111,971 shares during the period. Institutional investors own 92.76% of the company’s stock.

Kornit Digital Price Performance

NASDAQ KRNT opened at $31.73 on Friday. The stock has a market capitalization of $1.51 billion, a PE ratio of -36.06 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 business has a 50 day simple moving average of $29.77 and a two-hundred day simple moving average of $22.60.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings data 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 business had revenue of $50.73 million during the quarter, compared to analysts’ expectations 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 was down 14.3% on a year-over-year basis. During the same period last year, the company posted ($0.17) EPS. On average, analysts anticipate that Kornit Digital will post -0.22 EPS for the current fiscal year.

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.