Kornit Digital Ltd. (KRNT) Earns “Buy” Rating from Needham & Company LLC
Kornit Digital Ltd. (NASDAQ:KRNT)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued to investors on Tuesday. They presently have a $15.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 33.33% from the stock’s current price.
Several other equities research analysts have also recently issued reports on KRNT. TheStreet raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Stifel Nicolaus lowered their price target on shares of Kornit Digital from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research cut shares of Kornit Digital from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 4th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $15.40.
Shares of Kornit Digital (NASDAQ:KRNT) traded down 1.75% during midday trading on Tuesday, hitting $11.25. 31,032 shares of the company traded hands. The stock has a market capitalization of $344.07 million, a P/E ratio of 173.08 and a beta of -0.23. The company has a 50-day moving average price of $10.61 and a 200-day moving average price of $10.10. Kornit Digital has a 52 week low of $8.10 and a 52 week high of $12.30.
Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Wednesday, November 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. The company earned $30.90 million during the quarter, compared to analysts’ expectations of $28.79 million. Kornit Digital had a net margin of 2.03% and a return on equity of 5.14%. The firm’s quarterly revenue was up 40.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 EPS. Analysts anticipate that Kornit Digital will post $0.28 earnings per share for the current fiscal year.
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A number of large investors have recently bought and sold shares of the stock. Bamco Inc. NY boosted its stake in Kornit Digital by 94.7% in the third quarter. Bamco Inc. NY now owns 37,000 shares of the company’s stock worth $347,000 after buying an additional 18,000 shares during the last quarter. Summit Partners Public Asset Management LLC purchased a new stake in Kornit Digital during the third quarter worth approximately $1,839,000. Kornitzer Capital Management Inc. KS boosted its stake in Kornit Digital by 79.2% in the third quarter. Kornitzer Capital Management Inc. KS now owns 63,100 shares of the company’s stock worth $592,000 after buying an additional 27,888 shares during the last quarter. Grandeur Peak Global Advisors LLC boosted its stake in Kornit Digital by 11.6% in the second quarter. Grandeur Peak Global Advisors LLC now owns 95,126 shares of the company’s stock worth $928,000 after buying an additional 9,850 shares during the last quarter. Finally, United Services Automobile Association boosted its stake in Kornit Digital by 14.5% in the second quarter. United Services Automobile Association now owns 122,500 shares of the company’s stock worth $1,196,000 after buying an additional 15,500 shares during the last quarter. 26.02% of the stock is owned by institutional investors.
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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