Barclays Lowers Kornit Digital (NASDAQ:KRNT) Price Target to $18.00

Kornit Digital (NASDAQ:KRNT) had its price target cut by analysts at Barclays from $22.00 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target points to a potential upside of 42.90% from the company’s previous close.

KRNT has been the subject of several other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kornit Digital in a report on Wednesday, October 8th. Needham & Company LLC decreased their price objective on shares of Kornit Digital from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 price objective (down from $20.00) on shares of Kornit Digital in a research report on Thursday. Finally, Cantor Fitzgerald reduced their target price on Kornit Digital from $28.50 to $26.00 and set an “overweight” rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Kornit Digital currently has an average rating of “Hold” and a consensus target price of $22.40.

Kornit Digital Trading Up 0.8%

KRNT traded up $0.10 during midday trading on Thursday, reaching $12.60. The company’s stock had a trading volume of 44,269 shares, compared to its average volume of 336,159. The firm has a market capitalization of $564.24 million, a price-to-earnings ratio of -50.22 and a beta of 1.94. Kornit Digital has a 1 year low of $11.93 and a 1 year high of $34.28. The stock’s 50-day moving average is $14.19 and its 200-day moving average is $17.66.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Kornit Digital had a negative return on equity of 0.74% and a negative net margin of 5.43%.The firm had revenue of $53.13 million for the quarter, compared to analysts’ expectations of $51.79 million. During the same period in the previous year, the firm posted $0.11 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Kornit Digital has set its Q4 2025 guidance at EPS. As a group, equities research analysts forecast that Kornit Digital will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund grew its holdings in Kornit Digital by 3.8% during the 3rd quarter. New York State Common Retirement Fund now owns 191,344 shares of the industrial products company’s stock valued at $2,583,000 after buying an additional 6,917 shares in the last quarter. Live Oak Investment Partners purchased a new position in Kornit Digital during the third quarter valued at $419,000. Taylor Frigon Capital Management LLC increased its holdings in Kornit Digital by 30.5% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 166,871 shares of the industrial products company’s stock valued at $2,253,000 after acquiring an additional 39,012 shares during the last quarter. Fortitude Family Office LLC lifted its stake in Kornit Digital by 64.2% in the 3rd quarter. Fortitude Family Office LLC now owns 8,164 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 3,191 shares in the last quarter. Finally, Thompson Investment Management Inc. boosted its holdings in shares of Kornit Digital by 169.5% during the 3rd quarter. Thompson Investment Management Inc. now owns 789,761 shares of the industrial products company’s stock valued at $10,662,000 after purchasing an additional 496,754 shares during the last quarter. 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.