Kornit Digital (NASDAQ:KRNT) was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday.

A number of other research analysts have also recently issued reports on KRNT. Barclays set a $24.00 price objective on shares of Kornit Digital and gave the company a “buy” rating in a research note on Saturday, October 13th. BidaskClub raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Saturday, November 3rd. Needham & Company LLC lifted their price objective on shares of Kornit Digital from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, October 5th. Citigroup started coverage on shares of Kornit Digital in a research note on Wednesday, July 18th. They issued a “neutral” rating and a $20.00 price objective on the stock. Finally, Stifel Nicolaus lifted their price objective on shares of Kornit Digital from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $22.60.

Shares of KRNT traded up $2.28 during mid-day trading on Tuesday, hitting $21.40. 785,400 shares of the company’s stock were exchanged, compared to its average volume of 275,076. Kornit Digital has a 52 week low of $11.70 and a 52 week high of $22.20. The stock has a market capitalization of $688.20 million, a PE ratio of 167.17 and a beta of 0.67.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Monday, November 12th. The industrial products company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. Kornit Digital had a net margin of 1.47% and a return on equity of 2.69%. The company had revenue of $37.60 million for the quarter, compared to analysts’ expectations of $37.65 million. During the same period last year, the firm earned $0.05 earnings per share. The business’s revenue for the quarter was up 32.4% on a year-over-year basis. As a group, sell-side analysts forecast that Kornit Digital will post 0.23 EPS for the current year.

A number of large investors have recently made changes to their positions in the stock. American Capital Management Inc. increased its stake in Kornit Digital by 2.0% in the third quarter. American Capital Management Inc. now owns 2,760,933 shares of the industrial products company’s stock valued at $60,464,000 after acquiring an additional 54,230 shares during the last quarter. Granahan Investment Management Inc. MA boosted its position in Kornit Digital by 5.1% in the second quarter. Granahan Investment Management Inc. MA now owns 2,405,932 shares of the industrial products company’s stock valued at $42,826,000 after buying an additional 116,772 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its position in Kornit Digital by 17.3% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,133,522 shares of the industrial products company’s stock valued at $37,977,000 after buying an additional 314,805 shares in the last quarter. Janus Henderson Group PLC boosted its position in Kornit Digital by 23.2% in the second quarter. Janus Henderson Group PLC now owns 1,343,466 shares of the industrial products company’s stock valued at $23,914,000 after buying an additional 252,876 shares in the last quarter. Finally, Chicago Capital LLC boosted its position in Kornit Digital by 14.6% in the third quarter. Chicago Capital LLC now owns 1,179,539 shares of the industrial products company’s stock valued at $25,832,000 after buying an additional 149,960 shares in the last quarter. 94.95% of the stock is currently owned by institutional investors and hedge funds.

About Kornit Digital

Kornit Digital Ltd. develops, manufactures, and markets industrial digital printing technologies for the garment, apparel, and textile industries. The company focuses on the direct-to-garment and roll-to-roll segments of the printed textile industry. Its solutions include digital printing systems, ink and other consumables, associated software, and value added services.

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