Kornit Digital (NASDAQ:KRNT) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Kornit Digital (NASDAQ:KRNT) to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Craig Hallum lifted their target price on Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley boosted their target price on shares of Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Finally, Needham & Company LLC raised their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Kornit Digital Trading Down 0.5 %

Shares of NASDAQ:KRNT opened at $24.83 on Thursday. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $34.28. The firm has a market cap of $1.18 billion, a PE ratio of -70.94 and a beta of 2.02. The company has a fifty day simple moving average of $29.46 and a 200 day simple moving average of $26.82.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. As a group, equities research analysts forecast that Kornit Digital will post -0.2 EPS for the current fiscal year.

Institutional Trading of Kornit Digital

Several hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp increased its stake in shares of Kornit Digital by 23.4% in the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 393 shares during the period. Russell Investments Group Ltd. increased its position in Kornit Digital by 654.5% in the 4th quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 1,800 shares during the period. Parkside Financial Bank & Trust raised its stake in Kornit Digital by 35.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock valued at $117,000 after acquiring an additional 988 shares in the last quarter. Deutsche Bank AG boosted its position in Kornit Digital by 31.5% during the 4th quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 1,143 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in shares of Kornit Digital in the fourth quarter worth $159,000. 92.76% of the stock is currently owned by institutional investors.

About Kornit Digital

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. Its solutions include digital printing systems, ink and other consumables, associated software, and value-added services.