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

Shares of Kornit Digital Ltd. (NASDAQ:KRNT – Get Rating) have been given a consensus recommendation of “Hold” by the eight brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $32.50.

Several equities analysts have recently issued reports on the company. Barclays lowered Kornit Digital from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $34.00 to $28.00 in a research note on Wednesday, February 15th. Citigroup reduced their price objective on Kornit Digital from $42.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, February 17th. Needham & Company LLC reduced their price objective on Kornit Digital from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, February 13th. Finally, Morgan Stanley assumed coverage on Kornit Digital in a research report on Wednesday, January 18th. They set an “equal weight” rating and a $27.00 price objective on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in KRNT. Senvest Management LLC lifted its stake in shares of Kornit Digital by 72.4% in 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 purchasing an additional 1,374,250 shares during the period. Artisan Partners Limited Partnership raised its stake in Kornit Digital by 30.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,212,908 shares of the industrial products company’s stock worth $112,105,000 after buying an additional 971,439 shares during the period. Meitav Dash Investments Ltd. raised its stake in Kornit Digital by 48.4% during the 3rd quarter. Meitav Dash Investments Ltd. now owns 1,617,750 shares of the industrial products company’s stock worth $44,072,000 after buying an additional 527,536 shares during the period. Riverbridge Partners LLC raised its stake in Kornit Digital by 28.9% during the 4th quarter. Riverbridge Partners LLC now owns 1,864,146 shares of the industrial products company’s stock worth $42,819,000 after buying an additional 417,742 shares during the period. Finally, Alyeska Investment Group L.P. raised its stake in Kornit Digital by 56.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,123,280 shares of the industrial products company’s stock worth $25,802,000 after buying an additional 405,022 shares during the period. 93.05% of the stock is owned by institutional investors and hedge funds.

Kornit Digital Price Performance

Shares of NASDAQ KRNT opened at $19.05 on Thursday. The stock has a market capitalization of $948.31 million, a PE ratio of -12.06 and a beta of 1.69. The business has a fifty day moving average price of $23.44 and a two-hundred day moving average price of $25.02. Kornit Digital has a fifty-two week low of $18.12 and a fifty-two week high of $89.70.

Kornit Digital (NASDAQ:KRNT – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The industrial products company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The company had revenue of $63.30 million during the quarter, compared to analyst estimates of $67.05 million. Kornit Digital had a negative net margin of 29.12% and a negative return on equity of 6.16%. On average, equities analysts expect that Kornit Digital will post -0.99 EPS for the current year.

Kornit Digital Company Profile

(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.