Kornit Digital (NASDAQ:KRNT) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Several other research firms have also recently issued reports on KRNT. Zacks Investment Research cut Kornit Digital from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. TheStreet raised Kornit Digital from a “c+” rating to a “b” rating in a research note on Wednesday, November 14th. Finally, ValuEngine raised Kornit Digital from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 13th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Kornit Digital has a consensus rating of “Buy” and an average target price of $22.50.

Shares of KRNT opened at $21.84 on Tuesday. The firm has a market cap of $746.20 million, a P/E ratio of 106.60 and a beta of 0.92. Kornit Digital has a 12 month low of $11.70 and a 12 month high of $23.90.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Monday, November 12th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. Kornit Digital had a return on equity of 4.53% and a net margin of 3.78%. The company had revenue of $37.60 million during the quarter, compared to analysts’ expectations of $37.65 million. During the same quarter in the prior year, the business posted $0.05 earnings per share. The company’s revenue for the quarter was up 32.4% compared to the same quarter last year. On average, analysts anticipate that Kornit Digital will post 0.27 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the company. American Capital Management Inc. lifted its holdings in shares of Kornit Digital by 3.1% in the fourth quarter. American Capital Management Inc. now owns 2,847,478 shares of the industrial products company’s stock valued at $53,305,000 after buying an additional 86,545 shares during the period. Chicago Capital LLC lifted its holdings in shares of Kornit Digital by 14.6% in the third quarter. Chicago Capital LLC now owns 1,179,539 shares of the industrial products company’s stock valued at $25,832,000 after buying an additional 149,960 shares during the period. LA Financiere DE L Echiquier lifted its holdings in shares of Kornit Digital by 20.8% in the third quarter. LA Financiere DE L Echiquier now owns 627,944 shares of the industrial products company’s stock valued at $13,752,000 after buying an additional 107,944 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Kornit Digital by 14.1% in the third quarter. Russell Investments Group Ltd. now owns 564,779 shares of the industrial products company’s stock valued at $12,367,000 after buying an additional 69,636 shares during the period. Finally, Broadview Advisors LLC lifted its holdings in shares of Kornit Digital by 11.1% in the third quarter. Broadview Advisors LLC now owns 525,875 shares of the industrial products company’s stock valued at $11,517,000 after buying an additional 52,750 shares during the period. 87.65% of the stock is owned by institutional investors.

About Kornit Digital

Kornit Digital Ltd. develops, manufactures, and markets industrial digital printing technologies for the garment, apparel, and textile industries. The company focuses on the direct-to-garment and roll-to-roll segments of the printed textile industry. Its solutions include digital printing systems, ink and other consumables, associated software, and value added services.

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Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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