Kornit Digital Ltd. (NASDAQ:KRNT) Receives $29.00 Consensus Target Price from Brokerages

Shares of Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) have been given an average rating of "Moderate Buy" by the five ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $31.00.

KRNT has been the subject of several research reports. Cantor Fitzgerald initiated coverage on shares of Kornit Digital in a research report on Tuesday. They set an "overweight" rating and a $39.00 price objective for the company. Barclays raised their target price on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 1st. Needham & Company LLC raised their target price on shares of Kornit Digital from $27.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Morgan Stanley raised their target price on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Friday, September 13th. Finally, StockNews.com upgraded shares of Kornit Digital from a "sell" rating to a "hold" rating in a report on Thursday, August 8th.

Kornit Digital Stock Performance

KRNT stock traded down $0.11 during trading on Tuesday, hitting $31.85. 206,867 shares of the company's stock traded hands, compared to its average volume of 367,991. Kornit Digital has a 52 week low of $13.59 and a 52 week high of $33.00. The business has a fifty day simple moving average of $26.34 and a 200 day simple moving average of $19.82. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -36.32 and a beta of 1.93.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The business had revenue of $50.73 million during the quarter, compared to analyst estimates of $50.44 million. During the same quarter last year, the business earned ($0.17) earnings per share. Kornit Digital's quarterly revenue was down 14.3% compared to the same quarter last year. Research analysts forecast that Kornit Digital will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC purchased a new position in Kornit Digital during the 1st quarter valued at about $664,000. Harbor Capital Advisors Inc. increased its position in Kornit Digital by 217.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 80,466 shares of the industrial products company's stock valued at $1,178,000 after purchasing an additional 55,086 shares during the period. Tectonic Advisors LLC purchased a new position in Kornit Digital during the 3rd quarter valued at about $705,000. Disciplined Growth Investors Inc. MN increased its position in Kornit Digital by 5.7% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,060,575 shares of the industrial products company's stock valued at $30,167,000 after purchasing an additional 111,971 shares during the period. Finally, Lisanti Capital Growth LLC purchased a new position in Kornit Digital during the 3rd quarter valued at about $2,523,000. 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.