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

Kornit Digital Ltd. (NASDAQ:KRNT) has been assigned an average recommendation of “Buy” from the five research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $34.00.

Several research firms recently commented on KRNT. Morgan Stanley boosted their price objective on shares of Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Needham & Company LLC lifted their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald upgraded Kornit Digital to a “strong-buy” rating in a report on Thursday, February 27th.

Kornit Digital Trading Down 5.8 %

Shares of NASDAQ KRNT opened at $15.82 on Monday. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $34.29. The stock’s fifty day simple moving average is $24.30 and its two-hundred day simple moving average is $27.16. The stock has a market capitalization of $752.27 million, a PE ratio of -45.20 and a beta of 2.08.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. On average, equities analysts predict that Kornit Digital will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Kornit Digital

Several large investors have recently bought and sold shares of the stock. Fifth Third Bancorp raised its holdings in shares of Kornit Digital by 23.4% in the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock worth $64,000 after buying an additional 393 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Kornit Digital by 654.5% in the 4th quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 1,800 shares during the period. Parkside Financial Bank & Trust raised its stake in Kornit Digital by 35.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 988 shares during the last quarter. Deutsche Bank AG lifted its position in Kornit Digital by 31.5% during the 4th quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 1,143 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in Kornit Digital during the 4th quarter valued at about $159,000. Hedge funds and other institutional investors own 92.76% of the company’s stock.

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.