Craig Hallum Boosts Kornit Digital (NASDAQ:KRNT) Price Target to $33.00

Kornit Digital (NASDAQ:KRNT - Get Free Report) had its price objective lifted by stock analysts at Craig Hallum from $27.00 to $33.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Craig Hallum's target price indicates a potential upside of 8.37% from the company's previous close.

Several other research firms also recently commented on KRNT. Morgan Stanley raised their price target on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Friday, September 13th. Needham & Company LLC raised their price objective on Kornit Digital from $27.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday. Barclays boosted their target price on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 1st. Finally, StockNews.com upgraded shares of Kornit Digital from a "sell" rating to a "hold" rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $29.00.

Kornit Digital Trading Up 3.6 %

Kornit Digital stock traded up $1.05 during trading hours on Thursday, hitting $30.45. 147,007 shares of the stock traded hands, compared to its average volume of 369,619. Kornit Digital has a one year low of $13.59 and a one year high of $30.60. The firm's 50-day moving average price is $23.39 and its two-hundred day moving average price is $18.38. The company has a market cap of $1.45 billion, a PE ratio of -29.50 and a beta of 1.93.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The business had revenue of $50.73 million for the quarter, compared to the consensus estimate of $50.44 million. Kornit Digital had a negative net margin of 23.63% and a negative return on equity of 3.22%. The company's revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. On average, sell-side analysts expect that Kornit Digital will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kornit Digital

Several institutional investors and hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC boosted its holdings in Kornit Digital by 97.9% during the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company's stock valued at $38,000 after acquiring an additional 1,027 shares during the period. nVerses Capital LLC purchased a new position in Kornit Digital during the 2nd quarter worth approximately $40,000. Signaturefd LLC increased its holdings in shares of Kornit Digital by 29.4% in the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company's stock valued at $50,000 after acquiring an additional 779 shares during the period. Privium Fund Management B.V. acquired a new stake in shares of Kornit Digital during the second quarter worth about $159,000. Finally, Bank of New York Mellon Corp grew its stake 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 valued at $235,000 after purchasing an additional 1,184 shares during the last quarter. 92.76% of the stock is currently owned by institutional investors and hedge funds.

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.

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