Kornit Digital (NASDAQ:KRNT) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Kornit Digital (NASDAQ:KRNT - Free Report) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage issued an overweight rating and a $39.00 price target on the industrial products company's stock.

KRNT has been the subject of a number of other reports. Needham & Company LLC raised their target price on shares of Kornit Digital from $27.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Barclays lifted their price objective on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 1st. Craig Hallum boosted their target price on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. StockNews.com raised shares of Kornit Digital from a "sell" rating to a "hold" rating in a report on Thursday, August 8th. Finally, Morgan Stanley boosted their price objective on Kornit Digital from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $31.00.

Kornit Digital Stock Up 0.1 %

KRNT stock traded up $0.03 during mid-day trading on Tuesday, hitting $31.99. The company had a trading volume of 179,993 shares, compared to its average volume of 367,916. 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. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -36.32 and a beta of 1.93.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. The firm had revenue of $50.73 million for the quarter, compared to analysts' expectations of $50.44 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. The business's revenue was down 14.3% compared to the same quarter last year. As a group, analysts expect that Kornit Digital will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. nVerses Capital LLC purchased a new stake in shares of Kornit Digital during the second quarter valued at $40,000. Signaturefd LLC increased its holdings in Kornit Digital by 29.4% during the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company's stock worth $50,000 after purchasing an additional 779 shares during the period. Privium Fund Management B.V. bought a new stake in Kornit Digital during the 2nd quarter valued at $159,000. Bank of New York Mellon Corp lifted its holdings in shares of Kornit Digital by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company's stock worth $235,000 after buying an additional 1,184 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of Kornit Digital by 26.2% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company's stock worth $256,000 after buying an additional 3,633 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.