Stifel Nicolaus Cuts Kornit Digital Ltd. (KRNT) Price Target to $18.00
Kornit Digital Ltd. (NASDAQ:KRNT) had its price target decreased by Stifel Nicolaus from $20.00 to $18.00 in a research note released on Wednesday morning, MarketBeat.com reports. Stifel Nicolaus currently has a buy rating on the industrial products company’s stock.
Several other research firms have also recently weighed in on KRNT. BidaskClub cut Kornit Digital from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. Zacks Investment Research raised Kornit Digital from a sell rating to a hold rating in a research report on Wednesday, July 12th. 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. 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, Citigroup Inc. cut Kornit Digital from a buy rating to a neutral rating and reduced their price objective for the stock from $21.50 to $14.00 in a research report on Wednesday. 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’s stock. The company presently has a consensus rating of Buy and a consensus price target of $18.86.
Shares of Kornit Digital (NASDAQ:KRNT) opened at 15.30 on Wednesday. The stock’s market capitalization is $516.15 million. The stock’s 50 day moving average price is $17.77 and its 200-day moving average price is $17.77. Kornit Digital has a 1-year low of $8.90 and a 1-year high of $19.30.
Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. The company had revenue of $28.59 million during the quarter, compared to analysts’ expectations of $29.81 million. Kornit Digital had a positive return on equity of 7.05% and a negative net margin of 0.29%. Kornit Digital’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 earnings per share. Equities research analysts anticipate that Kornit Digital will post $0.18 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. United Services Automobile Association raised its holdings in Kornit Digital by 256.1% during the first quarter. United Services Automobile Association now owns 443,390 shares of the industrial products company’s stock worth $8,469,000 after acquiring an additional 318,890 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in Kornit Digital by 64.2% during the second quarter. Stephens Investment Management Group LLC now owns 1,269,012 shares of the industrial products company’s stock worth $24,555,000 after acquiring an additional 496,117 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Kornit Digital during the first quarter worth about $3,557,000. Timpani Capital Management LLC raised its holdings in Kornit Digital by 40.8% during the second quarter. Timpani Capital Management LLC now owns 144,404 shares of the industrial products company’s stock worth $2,794,000 after acquiring an additional 41,836 shares in the last quarter. Finally, Lebenthal Lisanti Capital Growth LLC raised its holdings in Kornit Digital by 90.0% during the second quarter. Lebenthal Lisanti Capital Growth LLC now owns 46,857 shares of the industrial products company’s stock worth $907,000 after acquiring an additional 22,197 shares in the last quarter. Institutional investors and hedge funds own 73.33% 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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