Kornit Digital (NASDAQ:KRNT) Given "Overweight" Rating at Cantor Fitzgerald

Kornit Digital (NASDAQ:KRNT - Get Free Report)'s stock had its "overweight" rating reissued by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $39.00 target price on the industrial products company's stock. Cantor Fitzgerald's target price suggests a potential upside of 41.30% from the stock's current price.

KRNT has been the topic of several other research reports. Morgan Stanley boosted their target price 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. Craig Hallum upped their target price on Kornit Digital from $27.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC raised their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $34.00.

Kornit Digital Price Performance

Shares of Kornit Digital stock traded down $1.55 during trading on Thursday, hitting $27.60. The company's stock had a trading volume of 367,398 shares, compared to its average volume of 216,622. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -31.36 and a beta of 2.02. Kornit Digital has a 52 week low of $13.59 and a 52 week high of $34.28. The stock has a 50-day moving average price of $30.50 and a two-hundred day moving average price of $26.33.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its quarterly earnings data 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 return on equity of 2.17% and a negative net margin of 21.00%. On average, equities analysts predict that Kornit Digital will post -0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Kornit Digital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new stake in shares of Kornit Digital during the 3rd quarter worth $934,000. Tectonic Advisors LLC purchased a new position in Kornit Digital during the 3rd quarter valued at about $705,000. Loomis Sayles & Co. L P purchased a new position in Kornit Digital during the third quarter valued at approximately $8,887,000. Dudley & Shanley Inc. increased its stake in Kornit Digital by 25.3% in the 3rd quarter. Dudley & Shanley Inc. now owns 259,525 shares of the industrial products company's stock worth $6,705,000 after acquiring an additional 52,425 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its holdings in shares of Kornit Digital by 4.4% in 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. 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.