Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the five analysts that are covering the firm, MarketBeat reports. One investment 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 brokerages that have covered the stock in the last year is $33.40.
Several research firms recently commented on KRNT. Needham & Company LLC lifted their target price on shares of Kornit Digital from $27.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Craig Hallum raised their price target on shares of Kornit Digital from $27.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Cantor Fitzgerald began coverage on shares of Kornit Digital in a research note on Tuesday, November 26th. They issued an "overweight" rating and a $39.00 price objective on the stock. Barclays raised their target price on 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, Morgan Stanley lifted their target price on Kornit Digital from $33.00 to $38.00 and gave the stock an "overweight" rating in a report on Monday, December 16th.
Check Out Our Latest Stock Analysis on Kornit Digital
Kornit Digital Price Performance
Shares of NASDAQ:KRNT opened at $29.48 on Wednesday. The company's 50 day simple moving average is $31.35 and its 200 day simple moving average is $24.04. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -33.50 and a beta of 2.01. Kornit Digital has a 1 year low of $13.59 and a 1 year high of $34.28.
Kornit Digital (NASDAQ:KRNT - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. The business had revenue of $50.73 million for the quarter, compared to analyst estimates of $50.44 million. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. Kornit Digital's revenue was down 14.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) earnings per share. As a group, analysts anticipate that Kornit Digital will post -0.22 EPS for the current fiscal year.
Institutional Trading of Kornit Digital
A number of institutional investors have recently bought and sold shares of KRNT. Chicago Capital LLC raised its holdings in Kornit Digital by 8.1% during the third quarter. Chicago Capital LLC now owns 3,089,263 shares of the industrial products company's stock worth $79,811,000 after buying an additional 231,659 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its position in shares of Kornit Digital by 2.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,113,832 shares of the industrial products company's stock worth $54,611,000 after acquiring an additional 53,257 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Kornit Digital by 6.0% in the second quarter. William Blair Investment Management LLC now owns 987,863 shares of the industrial products company's stock worth $14,462,000 after acquiring an additional 56,157 shares during the period. LHM Inc. purchased a new position in shares of Kornit Digital in the second quarter valued at $12,042,000. Finally, Polar Asset Management Partners Inc. raised its stake in shares of Kornit Digital by 35.7% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 621,043 shares of the industrial products company's stock valued at $16,045,000 after purchasing an additional 163,543 shares during the period. Institutional investors own 92.76% of the company's stock.
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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