Shares of Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) have been given a consensus recommendation of "Buy" by the five research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $34.00.
Several research analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Kornit Digital from $33.00 to $38.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. Cantor Fitzgerald raised shares of Kornit Digital to a "strong-buy" rating in a research report on Thursday, February 27th. Finally, Needham & Company LLC upped their price objective on Kornit Digital from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th.
Read Our Latest Stock Analysis on Kornit Digital
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in KRNT. Disciplined Growth Investors Inc. MN lifted its position in shares of Kornit Digital by 2.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,113,832 shares of the industrial products company's stock worth $54,611,000 after purchasing an additional 53,257 shares during the last quarter. Riverbridge Partners LLC raised its stake in Kornit Digital by 21.1% in the fourth quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company's stock valued at $59,643,000 after buying an additional 335,713 shares in the last quarter. Stephens Investment Management Group LLC lifted its holdings in Kornit Digital by 4.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company's stock worth $41,545,000 after buying an additional 57,068 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Kornit Digital by 259.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company's stock worth $38,300,000 after acquiring an additional 893,463 shares in the last quarter. Finally, Hood River Capital Management LLC increased its holdings in shares of Kornit Digital by 47.2% in the 4th quarter. Hood River Capital Management LLC now owns 1,099,725 shares of the industrial products company's stock valued at $34,036,000 after acquiring an additional 352,648 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company's stock.
Kornit Digital Stock Performance
Shares of KRNT traded down $0.98 during midday trading on Monday, hitting $15.82. 379,586 shares of the stock were exchanged, compared to its average volume of 291,783. Kornit Digital has a 52-week low of $13.59 and a 52-week high of $34.29. The stock has a fifty day simple moving average of $24.30 and a 200 day simple moving average of $27.11. The firm has a market cap of $752.27 million, a P/E ratio of -45.20 and a beta of 2.08.
Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. As a group, equities research analysts forecast that Kornit Digital will post -0.2 EPS for the current fiscal year.
About Kornit Digital
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Get Free ReportKornit 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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