Kornit Digital Ltd. (KRNT) Given Consensus Recommendation of “Buy” by Analysts
Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have earned a consensus recommendation of “Buy” from the six research firms that are presently covering the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $17.25.
A number of research analysts have issued reports on the company. Stifel Nicolaus reduced their price target on Kornit Digital from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. TheStreet upgraded Kornit Digital from a “sell” rating to a “hold” rating in a report on Monday, August 8th. Finally, Zacks Investment Research lowered Kornit Digital from a “hold” rating to a “strong sell” rating in a report on Thursday, August 4th.
Several hedge funds have recently made changes to their positions in KRNT. Bamco Inc. NY raised its stake in shares of Kornit Digital by 94.7% in the third quarter. Bamco Inc. NY now owns 37,000 shares of the company’s stock valued at $347,000 after buying an additional 18,000 shares during the period. Summit Partners Public Asset Management LLC purchased a new stake in shares of Kornit Digital during the third quarter valued at $1,839,000. Kornitzer Capital Management Inc. KS raised its stake in shares of Kornit Digital by 79.2% in the third quarter. Kornitzer Capital Management Inc. KS now owns 63,100 shares of the company’s stock valued at $592,000 after buying an additional 27,888 shares during the period. Grandeur Peak Global Advisors LLC raised its stake in shares of Kornit Digital by 11.6% in the second quarter. Grandeur Peak Global Advisors LLC now owns 95,126 shares of the company’s stock valued at $928,000 after buying an additional 9,850 shares during the period. Finally, United Services Automobile Association raised its stake in shares of Kornit Digital by 14.5% in the second quarter. United Services Automobile Association now owns 122,500 shares of the company’s stock valued at $1,196,000 after buying an additional 15,500 shares during the period. Institutional investors and hedge funds own 27.68% of the company’s stock.
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Shares of Kornit Digital (NASDAQ:KRNT) opened at 11.55 on Monday. The firm has a 50-day moving average price of $10.57 and a 200-day moving average price of $10.07. The firm has a market capitalization of $353.25 million, a price-to-earnings ratio of 177.69 and a beta of -0.23. Kornit Digital has a 52 week low of $8.10 and a 52 week high of $12.30.
Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. Kornit Digital had a return on equity of 5.14% and a net margin of 2.03%. The company earned $30.90 million during the quarter, compared to analyst estimates of $28.79 million. During the same quarter in the previous year, the firm posted $0.09 EPS. The firm’s quarterly revenue was up 40.5% on a year-over-year basis. On average, equities analysts expect that Kornit Digital will post $0.28 earnings per share for the current fiscal year.
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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