Kornit Digital Ltd. (NASDAQ:KRNT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $31.40.

KRNT has been the subject of several research reports. Barclays set a $22.00 price target on Kornit Digital and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Kornit Digital in a report on Saturday, September 27th. Finally, Needham & Company LLC dropped their price target on Kornit Digital from $30.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 6th.

Kornit Digital Stock Performance

Shares of Kornit Digital stock opened at $13.16 on Friday. The business’s 50 day simple moving average is $15.17 and its 200 day simple moving average is $18.35. Kornit Digital has a 52-week low of $12.78 and a 52-week high of $34.28. The firm has a market cap of $589.44 million, a PE ratio of -52.64 and a beta of 1.90.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Kornit Digital had a negative return on equity of 0.74% and a negative net margin of 5.43%.The firm had revenue of $49.75 million during the quarter, compared to the consensus estimate of $52.07 million. During the same period last year, the company earned $0.02 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts predict that Kornit Digital will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Kornit Digital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in Kornit Digital in the 2nd quarter valued at $31,000. State of Tennessee Department of Treasury acquired a new position in Kornit Digital in the 2nd quarter valued at $35,000. Fortitude Family Office LLC acquired a new position in Kornit Digital in the 2nd quarter valued at $99,000. Headlands Technologies LLC acquired a new position in Kornit Digital in the 1st quarter valued at $101,000. Finally, Captrust Financial Advisors acquired a new position in Kornit Digital in the 2nd quarter valued at $214,000. 92.76% of the stock is owned by institutional investors and hedge funds.

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.