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

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have been given an average recommendation of “Hold” by the six analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on 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 firms have commented on KRNT. Weiss Ratings lowered Kornit Digital from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 16th. Zacks Research upgraded Kornit Digital from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. Morgan Stanley lifted their price target on Kornit Digital from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Finally, Needham & Company LLC boosted their price target on Kornit Digital from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th.

Kornit Digital Trading Up 1.5%

Shares of KRNT stock opened at $16.87 on Friday. Kornit Digital has a 12-month low of $11.93 and a 12-month high of $19.78. The company has a market capitalization of $724.90 million, a P/E ratio of -35.15 and a beta of 1.85. The business’s 50 day moving average is $16.24 and its two-hundred day moving average is $15.80.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Wednesday, August 12th. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $55.32 million for the quarter, compared to analysts’ expectations of $52.80 million. Kornit Digital had a negative net margin of 9.42% and a negative return on equity of 1.00%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 EPS. On average, research analysts predict that Kornit Digital will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kornit Digital

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRNT. Tidal Investments LLC lifted its stake in Kornit Digital by 78.3% in the 2nd quarter. Tidal Investments LLC now owns 68,838 shares of the industrial products company’s stock worth $1,119,000 after purchasing an additional 30,233 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Kornit Digital in the second quarter valued at approximately $300,000. Lone Peak Global Investors LLC increased its holdings in shares of Kornit Digital by 2.6% in the second quarter. Lone Peak Global Investors LLC now owns 36,069 shares of the industrial products company’s stock valued at $586,000 after purchasing an additional 908 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Kornit Digital in the second quarter valued at approximately $224,000. Finally, American Capital Management Inc. acquired a new stake in shares of Kornit Digital in the second quarter valued at approximately $4,598,000. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Company Profile

Kornit Digital Ltd. (NASDAQ: KRNT) develops and manufactures digital printing technologies for the textile, apparel, and related consumer-product industries. Its solutions are designed to support on-demand, short-run, and customized production, helping businesses reduce reliance on traditional analog printing processes.

The company’s product portfolio includes direct-to-garment and direct-to-fabric printing systems, digital printing inks, pretreatment solutions, and workflow software. Kornit also provides related services and support intended to help customers manage design, production, color, and order fulfillment across textile-printing operations.

Kornit serves customers globally, including apparel brands, retailers, manufacturers, print service providers, and e-commerce businesses.