Needham & Company LLC Forecasts Strong Price Appreciation for Kornit Digital (NASDAQ:KRNT) Stock

Kornit Digital (NASDAQ:KRNT) had its price target lifted by Needham & Company LLC from $31.00 to $34.00 in a report published on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the industrial products company’s stock.

KRNT has been the topic of several other research reports. Craig Hallum raised their target price on shares of Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Cantor Fitzgerald initiated coverage on shares of Kornit Digital in a research report on Tuesday, November 26th. They set an “overweight” rating and a $39.00 price objective for the company. Finally, Morgan Stanley boosted their target price 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Kornit Digital Trading Up 0.0 %

Kornit Digital stock opened at $29.16 on Wednesday. The firm has a market capitalization of $1.39 billion, a P/E ratio of -33.14 and a beta of 2.02. The stock’s fifty day simple moving average is $30.67 and its 200-day simple moving average is $26.06. Kornit Digital has a twelve month low of $13.59 and a twelve month high of $34.28.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. Sell-side analysts predict that Kornit Digital will post -0.22 earnings per share for the current year.

Institutional Trading of Kornit Digital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P grew its position in shares of Kornit Digital by 259.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company’s stock valued at $38,300,000 after buying an additional 893,463 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Kornit Digital by 421.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 470,674 shares of the industrial products company’s stock valued at $14,567,000 after acquiring an additional 380,392 shares in the last quarter. Artemis Investment Management LLP grew its holdings in shares of Kornit Digital by 138.2% during the fourth quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company’s stock worth $19,867,000 after purchasing an additional 372,443 shares during the last quarter. Riverbridge Partners LLC increased its position in shares of Kornit Digital by 21.1% during the fourth quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company’s stock worth $59,643,000 after purchasing an additional 335,713 shares in the last quarter. Finally, Chicago Capital LLC lifted its holdings in shares of Kornit Digital by 8.1% in the 3rd quarter. Chicago Capital LLC now owns 3,089,263 shares of the industrial products company’s stock valued at $79,811,000 after purchasing an additional 231,659 shares during the last quarter. Institutional investors and hedge funds 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.