Kornit Digital Ltd. (NASDAQ:KRNT) Receives $21.50 Consensus Price Target from Analysts

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have received an average recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $21.50.

Several research analysts have recently weighed in on KRNT shares. Weiss Ratings raised Kornit Digital from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 27th. Zacks Research raised Kornit Digital from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. Needham & Company LLC boosted their target price on Kornit Digital from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, Morgan Stanley upped their price target on Kornit Digital from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its stake in Kornit Digital by 6.9% in the 4th quarter. Van ECK Associates Corp now owns 12,742 shares of the industrial products company’s stock valued at $183,000 after buying an additional 820 shares during the last quarter. Lone Peak Global Investors LLC boosted its stake in shares of Kornit Digital by 2.6% during the 2nd quarter. Lone Peak Global Investors LLC now owns 36,069 shares of the industrial products company’s stock worth $586,000 after buying an additional 908 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Kornit Digital by 11.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 12,200 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 1,300 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Kornit Digital in the 2nd quarter valued at about $31,000. Finally, State of Tennessee Department of Treasury acquired a new stake in shares of Kornit Digital in the second quarter valued at about $35,000. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Stock Up 3.1%

Shares of NASDAQ:KRNT opened at $16.55 on Wednesday. Kornit Digital has a 12 month low of $11.93 and a 12 month high of $19.78. The company’s fifty day simple moving average is $16.16 and its 200 day simple moving average is $15.72. The firm has a market cap of $711.15 million, a price-to-earnings ratio of -34.48 and a beta of 1.74.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Wednesday, August 12th. The industrial products company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $55.32 million during the quarter, compared to analyst estimates of $52.80 million. Kornit Digital had a negative net margin of 9.42% and a negative return on equity of 1.00%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 EPS. Research analysts expect that Kornit Digital will post -0.23 earnings per share 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.