Kornit Digital Ltd. (NASDAQ:KRNT) Receives Average Recommendation of “Hold” from Analysts

Kornit Digital Ltd. (NASDAQ:KRNT) has received a consensus rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $21.00.

KRNT has been the subject of several research analyst reports. Morgan Stanley upped their price target on Kornit Digital from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 23rd. Wall Street Zen upgraded Kornit Digital from a “sell” rating to a “hold” rating in a report on Sunday, April 12th. Needham & Company LLC increased their target price on shares of Kornit Digital from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Kornit Digital in a research report on Wednesday, March 25th.

Institutional Investors Weigh In On Kornit Digital

Large investors have recently made changes to their positions in the business. Van ECK Associates Corp raised its holdings in Kornit Digital by 6.9% during the fourth quarter. Van ECK Associates Corp now owns 12,742 shares of the industrial products company’s stock worth $183,000 after acquiring an additional 820 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Kornit Digital by 11.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 12,200 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 1,300 shares during the last quarter. Raymond James Financial Inc. bought a new position in Kornit Digital in the second quarter valued at approximately $31,000. State of Tennessee Department of Treasury bought a new position in Kornit Digital in the second quarter valued at approximately $35,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of Kornit Digital by 1,359.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,927 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 1,795 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Stock Performance

Shares of KRNT stock opened at $15.02 on Tuesday. Kornit Digital has a one year low of $11.93 and a one year high of $22.06. The company has a 50 day moving average price of $15.75 and a 200 day moving average price of $15.22. The firm has a market capitalization of $672.75 million, a price-to-earnings ratio of -38.51 and a beta of 1.73.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, May 13th. The industrial products company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). Kornit Digital had a negative net margin of 7.93% and a negative return on equity of 1.15%. The company had revenue of $48.54 million for the quarter, compared to the consensus estimate of $46.67 million. During the same quarter last year, the firm posted $0.01 earnings per share. Kornit Digital’s revenue was up 4.4% on a year-over-year basis. As a group, equities analysts forecast that Kornit Digital will post -0.28 EPS for the current fiscal year.

Kornit Digital Company Profile

Kornit Digital Ltd. (NASDAQ: KRNT) is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha’Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company’s flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.