Kornit Digital Ltd. (NASDAQ:KRNT) Receives $33.20 Average Target Price from Analysts

Kornit Digital Ltd. (NASDAQ:KRNT) has been assigned an average recommendation of “Buy” from the five research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $33.20.

A number of equities analysts have issued reports on the company. Morgan Stanley restated an “overweight” rating on shares of Kornit Digital in a report on Thursday, May 15th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of Kornit Digital in a research report on Thursday, June 5th. Finally, Cantor Fitzgerald raised shares of Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th.

Kornit Digital Stock Down 3.2%

NASDAQ:KRNT opened at $18.22 on Friday. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $34.29. The stock’s fifty day simple moving average is $20.37 and its 200-day simple moving average is $24.40. The firm has a market capitalization of $866.36 million, a P/E ratio of -101.22 and a beta of 1.93.

Hedge Funds Weigh In On Kornit Digital

Several institutional investors have recently modified their holdings of KRNT. Russell Investments Group Ltd. raised its holdings in Kornit Digital by 654.5% during the 4th quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company’s stock worth $64,000 after buying an additional 1,800 shares during the period. Headlands Technologies LLC bought a new stake in shares of Kornit Digital during the first quarter worth $101,000. Parkside Financial Bank & Trust raised its holdings in shares of Kornit Digital by 35.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 988 shares during the period. Deutsche Bank AG raised its holdings in shares of Kornit Digital by 31.5% during the fourth 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 stake in Kornit Digital in the 4th quarter valued at $159,000. Institutional investors 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.