Kornit Digital Ltd. (KRNT) Receives Consensus Rating of “Buy” from Analysts
Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have received a consensus recommendation of “Buy” from the six research firms that are presently covering the stock. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $17.25.
KRNT has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Kornit Digital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 5th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of Kornit Digital in a research note on Tuesday, July 5th. Canaccord Genuity reiterated a “buy” rating and set a $20.00 price objective on shares of Kornit Digital in a research note on Friday, July 1st. TheStreet upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. Finally, Stifel Nicolaus lowered their price objective on shares of Kornit Digital from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd.
Kornit Digital (NASDAQ:KRNT) traded down 3.37% during midday trading on Monday, reaching $10.05. The company had a trading volume of 14,153 shares. The company has a market capitalization of $306.26 million, a P/E ratio of 78.52 and a beta of -0.10. Kornit Digital has a 52-week low of $8.10 and a 52-week high of $13.50. The company’s 50 day moving average is $9.92 and its 200-day moving average is $9.95.
Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Tuesday, August 2nd. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.02. Kornit Digital had a return on equity of 4.54% and a net margin of 4.12%. The business earned $24 million during the quarter, compared to the consensus estimate of $24.53 million. During the same period in the prior year, the business earned $0.07 EPS. The business’s revenue was up 12.7% on a year-over-year basis. Equities analysts expect that Kornit Digital will post $0.27 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of KRNT. Geode Capital Management LLC raised its position in Kornit Digital by 13.5% in the first quarter. Geode Capital Management LLC now owns 13,919 shares of the company’s stock valued at $138,000 after buying an additional 1,651 shares during the period. Swiss National Bank raised its position in Kornit Digital by 72.3% in the second quarter. Swiss National Bank now owns 14,300 shares of the company’s stock valued at $140,000 after buying an additional 6,000 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Kornit Digital by 69.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 18,826 shares of the company’s stock valued at $187,000 after buying an additional 7,692 shares during the period. Kornitzer Capital Management Inc. KS acquired a new position in Kornit Digital during the second quarter valued at about $344,000. Finally, Ameriprise Financial Inc. acquired a new position in Kornit Digital during the second quarter valued at about $801,000. Hedge funds and other institutional investors own 27.45% of the company’s stock.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.
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