Citigroup Inc. cut shares of Kornit Digital Ltd. (NASDAQ:KRNT) from a buy rating to a neutral rating in a research note released on Wednesday morning, Marketbeat reports. Citigroup Inc. currently has $14.00 price target on the industrial products company’s stock, down from their prior price target of $21.50.

Several other research analysts have also recently weighed in on KRNT. Craig Hallum began coverage on Kornit Digital in a research report on Tuesday, July 11th. They set a buy rating and a $26.00 price objective for the company. BidaskClub cut Kornit Digital from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. Canaccord Genuity reaffirmed a buy rating and set a $24.00 price objective on shares of Kornit Digital in a research report on Tuesday, August 8th. Finally, Zacks Investment Research raised Kornit Digital from a sell rating to a hold rating in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $18.86.

Shares of Kornit Digital (NASDAQ:KRNT) opened at 15.30 on Wednesday. The stock’s market capitalization is $516.15 million. Kornit Digital has a 1-year low of $8.90 and a 1-year high of $19.30. The stock’s 50 day moving average price is $17.77 and its 200-day moving average price is $17.77.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Monday, August 7th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. Kornit Digital had a positive return on equity of 7.05% and a negative net margin of 0.29%. The firm had revenue of $28.59 million during the quarter, compared to analysts’ expectations of $29.81 million. During the same period in the previous year, the firm earned $0.02 earnings per share. The company’s revenue was up 19.4% on a year-over-year basis. Equities research analysts anticipate that Kornit Digital will post $0.18 EPS for the current fiscal year.

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Hedge funds have recently bought and sold shares of the company. Public Employees Retirement Association of Colorado acquired a new position in shares of Kornit Digital during the second quarter worth about $101,000. Cowen Prime Services LLC raised its holdings in Kornit Digital by 104.8% during the second quarter. Cowen Prime Services LLC now owns 6,058 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 3,100 shares in the last quarter. Van ECK Associates Corp raised its holdings in Kornit Digital by 49.4% during the second quarter. Van ECK Associates Corp now owns 7,813 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 2,583 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Kornit Digital by 1,540.0% during the second quarter. Wells Fargo & Company MN now owns 8,200 shares of the industrial products company’s stock worth $159,000 after acquiring an additional 7,700 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Kornit Digital by 104.3% during the first quarter. Sei Investments Co. now owns 9,111 shares of the industrial products company’s stock worth $174,000 after acquiring an additional 4,652 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

About Kornit Digital

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.

Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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