Cantor Fitzgerald Upgrades Kornit Digital (NASDAQ:KRNT) to "Strong-Buy"

Cantor Fitzgerald upgraded shares of Kornit Digital (NASDAQ:KRNT - Free Report) to a strong-buy rating in a research note released on Thursday,Zacks.com reports.

Other analysts have also issued reports about the stock. Craig Hallum upped their price objective on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Needham & Company LLC upped their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley lifted their price objective 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. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $34.00.

Kornit Digital Stock Down 2.0 %

KRNT stock traded down $0.46 during mid-day trading on Thursday, hitting $23.03. The company had a trading volume of 393,625 shares, compared to its average volume of 307,000. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -65.80 and a beta of 2.02. The company has a 50-day moving average price of $28.99 and a 200 day moving average price of $27.05. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $34.29.

Remove Ads

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 for the quarter, missing analysts' consensus estimates 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, analysts expect that Kornit Digital will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Kornit Digital

A number of large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in shares of Kornit Digital during the 4th quarter valued at about $399,000. Castleark Management LLC acquired a new position in Kornit Digital in the fourth quarter valued at approximately $4,200,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Kornit Digital by 11.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 115,695 shares of the industrial products company's stock worth $3,581,000 after acquiring an additional 11,496 shares during the last quarter. Shellback Capital LP acquired a new stake in Kornit Digital during the fourth quarter worth $319,000. Finally, Pathstone Holdings LLC raised its position in Kornit Digital by 0.8% in the fourth quarter. Pathstone Holdings LLC now owns 859,668 shares of the industrial products company's stock valued at $26,607,000 after purchasing an additional 6,503 shares during the period. Hedge funds and other 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.