Brokerages Set Kornit Digital Ltd. (NASDAQ:KRNT) Price Target at $33.40

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 firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $33.40.

A number of research analysts recently commented on the stock. Needham & Company LLC increased their price target 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. Cantor Fitzgerald assumed coverage on shares of Kornit Digital in a report on Tuesday, November 26th. They issued an "overweight" rating and a $39.00 price target for the company. Morgan Stanley increased their price target on shares of Kornit Digital from $33.00 to $38.00 and gave the company an "overweight" rating in a report on Monday, December 16th. Finally, Craig Hallum increased their price target on shares of Kornit Digital from $27.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, November 7th.

Kornit Digital Stock Performance

Shares of KRNT traded up $0.01 during midday trading on Friday, hitting $29.16. 748,026 shares of the company traded hands, compared to its average volume of 236,147. The firm has a 50 day moving average of $30.67 and a 200-day moving average of $26.06. Kornit Digital has a 52 week low of $13.59 and a 52 week high of $34.28. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -33.14 and a beta of 2.02.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. Sell-side analysts predict that Kornit Digital will post -0.22 earnings per share for the current fiscal year.

Institutional Trading of Kornit Digital

Several institutional investors have recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP bought a new stake in Kornit Digital in the fourth quarter worth about $942,000. Trexquant Investment LP increased its position in shares of Kornit Digital by 27.3% during the fourth quarter. Trexquant Investment LP now owns 188,307 shares of the industrial products company's stock worth $5,828,000 after acquiring an additional 40,422 shares during the period. Geode Capital Management LLC increased its position in shares of Kornit Digital by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 85,167 shares of the industrial products company's stock worth $2,636,000 after acquiring an additional 1,938 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Kornit Digital during the fourth quarter worth approximately $5,712,000. Finally, Pictet Asset Management Holding SA purchased a new position in shares of Kornit Digital during the fourth quarter worth approximately $203,000. Institutional investors own 92.76% of the company's stock.

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.