Kornit Digital Ltd. (NASDAQ:KRNT) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) have earned an average rating of "Moderate Buy" from the five research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $33.40.

A number of equities research analysts have weighed in on KRNT shares. Barclays lifted their price objective on Kornit Digital from $21.00 to $26.00 and gave the company an "equal weight" rating in a report on Tuesday, October 1st. Morgan Stanley boosted their price target on Kornit Digital from $33.00 to $38.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. Needham & Company LLC increased their price objective on Kornit Digital from $27.00 to $31.00 and gave the stock a "buy" rating in a research note 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. Finally, Cantor Fitzgerald began coverage on shares of Kornit Digital in a report on Tuesday, November 26th. They issued an "overweight" rating and a $39.00 target price on the stock.

Institutional Trading of Kornit Digital

Several large investors have recently made changes to their positions in KRNT. LHM Inc. bought a new stake in shares of Kornit Digital during the second quarter valued at approximately $12,042,000. Chicago Capital LLC boosted its position in Kornit Digital by 14.9% in the 2nd quarter. Chicago Capital LLC now owns 2,857,604 shares of the industrial products company's stock valued at $41,835,000 after buying an additional 370,962 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Kornit Digital in the 3rd quarter valued at $8,887,000. Artemis Investment Management LLP acquired a new stake in shares of Kornit Digital in the 3rd quarter valued at $6,962,000. Finally, Polar Asset Management Partners Inc. raised its position in shares of Kornit Digital by 35.7% during 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 acquiring an additional 163,543 shares during the last quarter. Institutional investors own 92.76% of the company's stock.

Kornit Digital Price Performance

Shares of NASDAQ KRNT traded up $0.49 during trading hours on Friday, reaching $32.60. The stock had a trading volume of 272,768 shares, compared to its average volume of 361,420. Kornit Digital has a twelve month low of $13.59 and a twelve month high of $34.28. The business's fifty day moving average is $29.04 and its two-hundred day moving average is $22.07. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -37.05 and a beta of 2.01.

Kornit Digital (NASDAQ:KRNT - Get Free Report) 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. The company 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 quarter in the prior year, the company posted ($0.17) EPS. Sell-side analysts forecast that Kornit Digital will post -0.22 earnings per share 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.