Needham & Company LLC Forecasts Strong Price Appreciation for Kornit Digital (NASDAQ:KRNT) Stock

Kornit Digital (NASDAQ:KRNT - Free Report) had its price objective lifted by Needham & Company LLC from $31.00 to $34.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company's stock.

Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald assumed coverage on shares of Kornit Digital in a research report on Tuesday, November 26th. They issued an "overweight" rating and a $39.00 target price for the company. Morgan Stanley boosted their price target on shares of Kornit Digital from $33.00 to $38.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. Finally, Craig Hallum upped their price objective on Kornit Digital from $27.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.

Kornit Digital Trading Down 5.3 %

NASDAQ KRNT traded down $1.55 during trading hours on Wednesday, reaching $27.60. The company's stock had a trading volume of 367,398 shares, compared to its average volume of 216,622. The business has a 50-day simple moving average of $30.50 and a 200 day simple moving average of $26.33. 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 $1.31 billion, a PE ratio of -31.36 and a beta of 2.02.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (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%. As a group, equities analysts predict that Kornit Digital will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Kornit Digital

A number of large investors have recently made changes to their positions in KRNT. Loomis Sayles & Co. L P lifted its position in Kornit Digital by 259.7% in 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 buying an additional 893,463 shares in the last quarter. AQR Capital Management LLC acquired a new position in Kornit Digital during the fourth quarter worth $14,769,000. Assenagon Asset Management S.A. raised its holdings in Kornit Digital by 421.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 470,674 shares of the industrial products company's stock valued at $14,567,000 after buying an additional 380,392 shares in the last quarter. Artemis Investment Management LLP boosted its stake in shares of Kornit Digital by 138.2% during the 4th quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company's stock worth $19,867,000 after acquiring an additional 372,443 shares in the last quarter. Finally, Hood River Capital Management LLC increased its holdings in shares of Kornit Digital by 47.2% during 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 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.