Kornit Digital (KRNT) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Kornit Digital (NASDAQ:KRNT) from a sell rating to a hold rating in a research report report published on Saturday.

Several other brokerages also recently issued reports on KRNT. ValuEngine upgraded Kornit Digital from a hold rating to a buy rating in a research report on Tuesday, September 4th. Needham & Company LLC upped their price objective on Kornit Digital from $21.00 to $24.00 and gave the company a buy rating in a research report on Friday, October 5th. Stifel Nicolaus upped their price objective on Kornit Digital from $21.00 to $25.00 and gave the company a buy rating in a research report on Monday, October 8th. Citigroup assumed coverage on Kornit Digital in a research report on Wednesday, July 18th. They issued a neutral rating and a $20.00 price objective on the stock. Finally, Barclays set a $24.00 price objective on Kornit Digital and gave the company a buy rating in a research report on Saturday, October 13th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $22.60.

KRNT traded up $0.12 during trading on Friday, reaching $18.91. 193,586 shares of the stock were exchanged, compared to its average volume of 176,003. The company has a market cap of $648.75 million, a price-to-earnings ratio of 157.58 and a beta of 0.67. Kornit Digital has a 1 year low of $11.70 and a 1 year high of $22.20.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Monday, August 6th. The industrial products company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.01. Kornit Digital had a return on equity of 2.69% and a net margin of 1.47%. The company had revenue of $35.90 million for the quarter, compared to the consensus estimate of $35.26 million. During the same period in the previous year, the business earned $0.09 earnings per share. Kornit Digital’s quarterly revenue was up 25.6% compared to the same quarter last year. Equities analysts anticipate that Kornit Digital will post 0.23 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its stake in Kornit Digital by 65.5% in the first quarter. Wells Fargo & Company MN now owns 14,146 shares of the industrial products company’s stock valued at $182,000 after purchasing an additional 5,600 shares during the last quarter. Northern Trust Corp increased its stake in Kornit Digital by 6.3% in the first quarter. Northern Trust Corp now owns 96,463 shares of the industrial products company’s stock valued at $1,245,000 after purchasing an additional 5,754 shares during the last quarter. West Chester Capital Advisors Inc. acquired a new position in Kornit Digital in the second quarter valued at $178,000. Cowen Prime Services LLC increased its stake in Kornit Digital by 20.3% in the second quarter. Cowen Prime Services LLC now owns 64,944 shares of the industrial products company’s stock valued at $1,156,000 after purchasing an additional 10,950 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Kornit Digital in the second quarter valued at $201,000. Hedge funds and other institutional investors own 94.63% of the company’s stock.

About Kornit Digital

Kornit Digital Ltd. develops, manufactures, and markets industrial digital printing technologies for the garment, apparel, and textile industries. The company focuses on the direct-to-garment and roll-to-roll segments of the printed textile industry. Its 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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