Shares of Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the five ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $33.40.
A number of brokerages have recently weighed in on KRNT. Craig Hallum lifted their target price on shares of Kornit Digital from $27.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Morgan Stanley lifted their price objective on Kornit Digital from $33.00 to $38.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. Needham & Company LLC increased their target price on Kornit Digital from $27.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Barclays raised their target price on Kornit Digital from $21.00 to $26.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 1st. Finally, Cantor Fitzgerald assumed coverage on Kornit Digital in a research note on Tuesday, November 26th. They issued an "overweight" rating and a $39.00 price target on the stock.
Get Our Latest Report on Kornit Digital
Hedge funds have recently added to or reduced their stakes in the stock. Chicago Capital LLC lifted its stake in shares of Kornit Digital by 8.1% in the third quarter. Chicago Capital LLC now owns 3,089,263 shares of the industrial products company's stock worth $79,811,000 after buying an additional 231,659 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in Kornit Digital by 2.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,113,832 shares of the industrial products company's stock worth $54,611,000 after acquiring an additional 53,257 shares during the last quarter. William Blair Investment Management LLC lifted its position in Kornit Digital by 6.0% in the 2nd quarter. William Blair Investment Management LLC now owns 987,863 shares of the industrial products company's stock valued at $14,462,000 after acquiring an additional 56,157 shares in the last quarter. LHM Inc. purchased a new stake in Kornit Digital during the 2nd quarter valued at $12,042,000. Finally, Polar Asset Management Partners Inc. increased its holdings in shares of Kornit Digital by 35.7% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 621,043 shares of the industrial products company's stock worth $16,045,000 after purchasing an additional 163,543 shares in the last quarter. 92.76% of the stock is owned by institutional investors.
Shares of KRNT stock opened at $32.60 on Friday. Kornit Digital has a fifty-two week low of $13.59 and a fifty-two week high of $34.28. The firm has a market cap of $1.55 billion, a P/E ratio of -37.05 and a beta of 2.01. The business's 50 day moving average price is $29.04 and its 200-day moving average price is $22.01.
Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.04. The company had revenue of $50.73 million during the quarter, compared to analyst estimates of $50.44 million. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. The firm's revenue was down 14.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) earnings per share. As a group, equities analysts predict that Kornit Digital will post -0.22 EPS for the current year.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Kornit Digital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kornit Digital wasn't on the list.
While Kornit Digital currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.