Kornit Digital Ltd. (NASDAQ:KRNT) Given Consensus Rating of “Hold” by Analysts

Shares of Kornit Digital Ltd. (NASDAQ:KRNTGet Rating) have earned an average rating of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $75.60.

KRNT has been the topic of a number of recent analyst reports. Stifel Nicolaus downgraded Kornit Digital from a “buy” rating to a “hold” rating and cut their price objective for the company from $100.00 to $50.00 in a research note on Wednesday, July 6th. TheStreet lowered Kornit Digital from a “c-” rating to a “d+” rating in a report on Thursday, June 2nd. Craig Hallum boosted their price target on Kornit Digital from $26.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, August 11th. Citigroup decreased their price target on Kornit Digital from $90.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, July 6th. Finally, Needham & Company LLC lifted their price objective on Kornit Digital from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, August 11th.

Hedge Funds Weigh In On Kornit Digital

A number of large investors have recently made changes to their positions in the company. Schroder Investment Management Group acquired a new stake in Kornit Digital during the fourth quarter worth approximately $30,000. HM Payson & Co. acquired a new stake in shares of Kornit Digital during the 4th quarter valued at $39,000. Meeder Asset Management Inc. bought a new position in Kornit Digital during the 1st quarter worth $25,000. Northwestern Mutual Wealth Management Co. bought a new position in Kornit Digital during the 1st quarter worth $28,000. Finally, Signaturefd LLC raised its position in Kornit Digital by 135.6% during the 1st quarter. Signaturefd LLC now owns 549 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 316 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.

Kornit Digital Stock Down 1.1 %

Shares of KRNT stock opened at $26.98 on Thursday. Kornit Digital has a fifty-two week low of $20.40 and a fifty-two week high of $181.38. The stock has a market capitalization of $1.34 billion, a P/E ratio of -69.18 and a beta of 1.74. The stock has a 50-day simple moving average of $29.47 and a 200 day simple moving average of $47.05.

Kornit Digital (NASDAQ:KRNTGet Rating) last announced its quarterly earnings data on Wednesday, August 10th. The industrial products company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). Kornit Digital had a negative return on equity of 1.89% and a negative net margin of 6.29%. The business had revenue of $62.50 million for the quarter, compared to analyst estimates of $58.00 million. During the same quarter in the previous year, the business posted $0.15 earnings per share. The company’s revenue was down 29.2% compared to the same quarter last year.

About Kornit Digital

(Get Rating)

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company's solutions include digital printing systems, ink and other consumables, associated software, and value-added services.

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Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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