Kornit Digital Ltd. (NASDAQ:KRNT) Receives $33.40 Average Price Target from Analysts

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have earned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $34.00.

Several research firms have recently commented on KRNT. Needham & Company LLC upped their price target on Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $39.00 price objective on shares of Kornit Digital in a research report on Thursday. Craig Hallum raised their target price on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley boosted their price target 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.

Kornit Digital Stock Performance

Shares of NASDAQ:KRNT opened at $27.60 on Friday. Kornit Digital has a one year low of $13.59 and a one year high of $34.28. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -31.36 and a beta of 2.02. The company has a 50-day simple moving average of $30.50 and a 200-day simple moving average of $26.26.

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

Institutional Investors Weigh In On Kornit Digital

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Trust Point Inc. raised its holdings in Kornit Digital by 4.6% during the third quarter. Trust Point Inc. now owns 17,868 shares of the industrial products company’s stock worth $462,000 after purchasing an additional 785 shares during the last quarter. Chicago Capital LLC raised its stake in shares of Kornit Digital by 8.1% during the 3rd 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 during the last quarter. Signaturefd LLC boosted its position in shares of Kornit Digital by 69.7% in the 3rd quarter. Signaturefd LLC now owns 5,818 shares of the industrial products company’s stock worth $150,000 after buying an additional 2,390 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Kornit Digital by 238.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 90,282 shares of the industrial products company’s stock valued at $2,332,000 after acquiring an additional 63,629 shares during the last quarter. Finally, Tectonic Advisors LLC purchased a new position in Kornit Digital during the 3rd quarter valued at about $705,000. 92.76% of the stock is currently owned by institutional investors and hedge funds.

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.