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

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have earned an average recommendation of “Buy” from the five analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $32.80.

A number of equities analysts recently commented on the company. Cantor Fitzgerald upgraded Kornit Digital to a “strong-buy” rating in a report on Thursday, February 27th. Needham & Company LLC dropped their price target on shares of Kornit Digital from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th.

Kornit Digital Stock Up 1.3 %

KRNT stock opened at $18.51 on Friday. The company has a 50 day moving average of $20.76 and a two-hundred day moving average of $26.32. The company has a market cap of $880.19 million, a price-to-earnings ratio of -52.89 and a beta of 2.08. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $34.29.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) 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, research analysts anticipate that Kornit Digital will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Kornit Digital

Institutional investors have recently modified their holdings of the company. Fifth Third Bancorp grew its stake in Kornit Digital by 23.4% in the 4th quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock valued at $64,000 after buying an additional 393 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Kornit Digital by 654.5% in the fourth quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 1,800 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Kornit Digital by 35.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 988 shares during the period. Deutsche Bank AG lifted its position in shares of 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 purchasing an additional 1,143 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in Kornit Digital during the 4th quarter valued at approximately $159,000. Institutional investors own 92.76% of the company’s stock.

Kornit Digital Company Profile

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.