Kornit Digital (NASDAQ:KRNT - Get Free Report) had its target price decreased by Needham & Company LLC from $34.00 to $28.00 in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm currently has a "buy" rating on the industrial products company's stock. Needham & Company LLC's price objective points to a potential upside of 49.65% from the stock's previous close.
Several other equities research analysts also recently issued reports on the company. Cantor Fitzgerald upgraded Kornit Digital to a "strong-buy" rating in a report on Thursday, February 27th. Morgan Stanley lifted their price objective on shares of Kornit Digital from $33.00 to $38.00 and gave the stock an "overweight" rating in a report on Monday, December 16th. Two 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $32.80.
Read Our Latest Report on KRNT
Kornit Digital Stock Performance
Shares of Kornit Digital stock traded up $0.79 during trading hours on Tuesday, reaching $18.71. The company's stock had a trading volume of 201,170 shares, compared to its average volume of 294,147. The company has a market capitalization of $889.70 million, a P/E ratio of -53.46 and a beta of 2.08. The stock's fifty day simple moving average is $22.64 and its two-hundred day simple moving average is $26.78. Kornit Digital has a one year low of $13.59 and a one year high of $34.29.
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, research analysts forecast that Kornit Digital will post -0.2 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp raised its stake in shares of Kornit Digital by 23.4% during the 4th quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company's stock worth $64,000 after purchasing an additional 393 shares during the period. US Bancorp DE raised its position in Kornit Digital by 7.4% in the fourth quarter. US Bancorp DE now owns 8,294 shares of the industrial products company's stock worth $257,000 after acquiring an additional 572 shares during the period. California State Teachers Retirement System raised its position in Kornit Digital by 1.2% in the fourth quarter. California State Teachers Retirement System now owns 46,855 shares of the industrial products company's stock worth $1,450,000 after acquiring an additional 575 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in Kornit Digital by 3.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company's stock valued at $468,000 after acquiring an additional 625 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Kornit Digital by 8.5% during the 4th quarter. American Century Companies Inc. now owns 11,120 shares of the industrial products company's stock valued at $344,000 after acquiring an additional 874 shares during the period. Hedge funds and other institutional investors own 92.76% of the company's stock.
About Kornit Digital
(
Get Free Report)
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.
See Also
Before you consider Kornit Digital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kornit Digital wasn't on the list.
While Kornit Digital currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
