Kornit Digital Ltd. (NASDAQ:KRNT) Receives Average Rating of “Hold” from Brokerages

Kornit Digital Ltd. (NASDAQ:KRNTGet Rating) has earned an average recommendation of “Hold” from the eight brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $36.33.

Several brokerages have recently commented on KRNT. Morgan Stanley started coverage on shares of Kornit Digital in a report on Wednesday, January 18th. They issued an “equal weight” rating and a $27.00 target price for the company. Needham & Company LLC dropped their target price on shares of Kornit Digital from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, November 10th. Citigroup reduced their target price on Kornit Digital from $50.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, November 10th. Barclays dropped their price target on Kornit Digital from $48.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, November 10th. Finally, Craig Hallum reduced their price objective on Kornit Digital from $32.00 to $25.00 in a research note on Thursday, November 10th.

Institutional Trading of Kornit Digital

A number of large investors have recently bought and sold shares of the company. Senvest Management LLC lifted its position in shares of Kornit Digital by 72.4% during the 3rd quarter. Senvest Management LLC now owns 3,273,131 shares of the industrial products company’s stock valued at $87,098,000 after buying an additional 1,374,250 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in Kornit Digital by 30.0% during the third quarter. Artisan Partners Limited Partnership now owns 4,212,908 shares of the industrial products company’s stock valued at $112,105,000 after purchasing an additional 971,439 shares during the last quarter. Meitav Dash Investments Ltd. lifted its holdings in Kornit Digital by 48.4% during the third quarter. Meitav Dash Investments Ltd. now owns 1,617,750 shares of the industrial products company’s stock valued at $44,072,000 after purchasing an additional 527,536 shares during the last quarter. Riverbridge Partners LLC boosted its position in Kornit Digital by 28.9% during the fourth quarter. Riverbridge Partners LLC now owns 1,864,146 shares of the industrial products company’s stock worth $42,819,000 after purchasing an additional 417,742 shares during the period. Finally, Macquarie Group Ltd. increased its stake in shares of Kornit Digital by 154.2% in the second quarter. Macquarie Group Ltd. now owns 513,393 shares of the industrial products company’s stock worth $16,274,000 after purchasing an additional 311,441 shares in the last quarter. 93.05% of the stock is owned by hedge funds and other institutional investors.

Kornit Digital Stock Performance

Shares of NASDAQ KRNT opened at $23.80 on Wednesday. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -28.00 and a beta of 1.64. Kornit Digital has a fifty-two week low of $19.44 and a fifty-two week high of $110.94. The firm’s 50-day simple moving average is $24.02 and its 200 day simple moving average is $26.59.

Kornit Digital (NASDAQ:KRNTGet Rating) last announced its earnings results on Wednesday, November 9th. The industrial products company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.13). The company had revenue of $66.79 million for the quarter, compared to analysts’ expectations of $68.06 million. Kornit Digital had a negative net margin of 14.45% and a negative return on equity of 4.44%. On average, sell-side analysts predict that Kornit Digital will post -0.89 EPS for the current year.

About Kornit Digital

(Get Rating)

Kornit Digital Ltd. is engaged in the development, designing, manufacture, and marketing of industrial and commercial printing solutions for the garment, apparel, and textile industries. It offers printing solutions for apparel, polyester, sportswear, beachwear, accessories, paradigm shirt, textiles, curtains, cushions and couches.

See Also

Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

Receive News & Ratings for Kornit Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kornit Digital and related companies with MarketBeat.com's FREE daily email newsletter.