Kornit Digital Ltd. (NASDAQ:KRNT) Receives $33.40 Average Price Target from Analysts

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have been given a consensus recommendation of “Moderate Buy” by the five research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $33.40.

A number of research firms recently issued reports on KRNT. Craig Hallum lifted their target price on Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays lifted their price objective on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Needham & Company LLC increased their target price on shares of Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley raised their target price on shares of Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Finally, Cantor Fitzgerald initiated coverage on Kornit Digital in a report on Tuesday, November 26th. They issued an “overweight” rating and a $39.00 price target on the stock.

Kornit Digital Trading Down 0.5 %

Shares of NASDAQ:KRNT opened at $31.78 on Friday. Kornit Digital has a twelve month low of $13.59 and a twelve month high of $34.28. The firm has a market cap of $1.51 billion, a P/E ratio of -36.11 and a beta of 2.01. The company has a 50 day moving average of $29.34 and a 200-day moving average of $22.35.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. The firm had revenue of $50.73 million during the quarter, compared to analyst estimates of $50.44 million. During the same period last year, the company posted ($0.17) EPS. The firm’s quarterly revenue was down 14.3% on a year-over-year basis. Equities research analysts forecast that Kornit Digital will post -0.22 EPS for the current year.

Hedge Funds Weigh In On Kornit Digital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Kornit Digital by 3.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company’s stock valued at $468,000 after purchasing an additional 625 shares in the last quarter. Signaturefd LLC lifted its stake in Kornit Digital by 29.4% in the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 779 shares in the last quarter. Trust Point Inc. boosted its position in Kornit Digital by 4.6% during the 3rd quarter. Trust Point Inc. now owns 17,868 shares of the industrial products company’s stock worth $462,000 after acquiring an additional 785 shares during the period. Privium Fund Management B.V. grew its stake in Kornit Digital by 8.8% during the 3rd quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company’s stock valued at $305,000 after acquiring an additional 950 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Kornit Digital by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock valued at $235,000 after purchasing an additional 1,184 shares during the period. Institutional investors and hedge funds own 92.76% of the company’s stock.

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.