Analysts Set Kornit Digital Ltd. (NASDAQ:KRNT) PT at $34.00

Kornit Digital Ltd. (NASDAQ:KRNT) has been assigned an average rating of “Buy” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $34.00.

Several equities research analysts have recently issued reports on KRNT shares. Cantor Fitzgerald upgraded shares of Kornit Digital to a “strong-buy” rating in a report on Thursday, February 27th. Morgan Stanley raised 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. Finally, Needham & Company LLC upped their target price on Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th.

Kornit Digital Price Performance

Shares of NASDAQ KRNT opened at $15.82 on Monday. The stock has a market capitalization of $752.27 million, a P/E ratio of -45.20 and a beta of 2.08. Kornit Digital has a 1-year low of $13.59 and a 1-year high of $34.29. The business’s 50 day moving average is $24.30 and its two-hundred day moving average is $27.16.

Kornit Digital (NASDAQ:KRNT) last released its 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 net margin of 8.24% and a negative return on equity of 1.51%. As a group, equities research analysts anticipate that Kornit Digital will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kornit Digital

A number of hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its stake in shares of Kornit Digital by 23.4% during the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 393 shares in the last quarter. US Bancorp DE raised its position in Kornit Digital by 7.4% during the 4th quarter. US Bancorp DE now owns 8,294 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 572 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Kornit Digital by 1.2% in the 4th quarter. California State Teachers Retirement System now owns 46,855 shares of the industrial products company’s stock worth $1,450,000 after buying an additional 575 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Kornit Digital by 3.6% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company’s stock worth $468,000 after buying an additional 625 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Kornit Digital by 8.5% during the fourth quarter. American Century Companies Inc. now owns 11,120 shares of the industrial products company’s stock valued at $344,000 after buying an additional 874 shares during the period. 92.76% of the stock is currently owned by institutional investors.

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.