Kornit Digital Ltd (NASDAQ:KRNT) Receives $26.40 Average Price Target from Analysts

Shares of Kornit Digital Ltd (NASDAQ:KRNT) have been given an average recommendation of “Buy” by the nine ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $26.40.

A number of research analysts have commented on the company. TheStreet raised BlackRock TCP Capital from a “c+” rating to a “b” rating in a report on Tuesday, May 28th. Stifel Nicolaus increased their target price on Realty Income from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Zacks Investment Research downgraded Green Plains from a “hold” rating to a “strong sell” rating in a report on Thursday, June 27th. BidaskClub downgraded Zynga from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 target price (up previously from $32.00) on shares of Kornit Digital in a report on Tuesday, June 18th.

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Kornit Digital by 44.0% in the third quarter. Vanguard Group Inc. now owns 15,184 shares of the industrial products company’s stock valued at $332,000 after buying an additional 4,642 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Kornit Digital by 20.3% in the fourth quarter. BlackRock Inc. now owns 494,083 shares of the industrial products company’s stock valued at $9,249,000 after buying an additional 83,303 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Kornit Digital by 23.0% in the fourth quarter. Van ECK Associates Corp now owns 11,152 shares of the industrial products company’s stock valued at $209,000 after buying an additional 2,083 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Kornit Digital by 5.7% in the fourth quarter. Lord Abbett & CO. LLC now owns 570,994 shares of the industrial products company’s stock valued at $10,689,000 after buying an additional 30,824 shares in the last quarter. Finally, PRW Wealth Management LLC purchased a new stake in shares of Kornit Digital in the fourth quarter valued at approximately $38,000. 83.77% of the stock is currently owned by institutional investors.

KRNT traded up $0.33 on Friday, reaching $30.84. The company’s stock had a trading volume of 5,900 shares, compared to its average volume of 587,208. The firm has a market cap of $1.25 billion, a PE ratio of 127.83 and a beta of 1.06. Kornit Digital has a 1 year low of $16.10 and a 1 year high of $32.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.04 and a current ratio of 2.94. The firm has a 50 day moving average of $28.67.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Monday, May 13th. The industrial products company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The business had revenue of $38.20 million during the quarter, compared to analysts’ expectations of $37.97 million. Kornit Digital had a net margin of 6.88% and a return on equity of 4.27%. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 EPS. Research analysts anticipate that Kornit Digital will post 0.42 earnings per share for the current year.

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. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.

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Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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