Canaccord Genuity reaffirmed their buy rating on shares of Kornit Digital Ltd. (NASDAQ:KRNT) in a research note published on Wednesday. The brokerage currently has a $18.00 price target on the industrial products company’s stock, down from their prior price target of $24.00.

Other analysts also recently issued reports about the company. Craig Hallum assumed coverage on Kornit Digital in a research note on Tuesday, July 11th. They issued a buy rating and a $26.00 target price for the company. Citigroup Inc. downgraded Kornit Digital from a buy rating to a neutral rating and reduced their target price for the company from $21.50 to $14.00 in a research note on Wednesday. Zacks Investment Research upgraded Kornit Digital from a sell rating to a hold rating in a research note on Wednesday, July 12th. Stifel Nicolaus reduced their target price on Kornit Digital from $20.00 to $18.00 and set a buy rating for the company in a research note on Wednesday. Finally, BidaskClub downgraded Kornit Digital from a buy rating to a hold rating in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $18.86.

Kornit Digital (NASDAQ KRNT) opened at 15.30 on Wednesday. The stock’s 50 day moving average price is $17.77 and its 200 day moving average price is $17.77. The firm’s market capitalization is $516.15 million. Kornit Digital has a 52-week low of $8.90 and a 52-week high of $19.30.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Monday, August 7th. The industrial products company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The company had revenue of $28.59 million during the quarter, compared to the consensus estimate of $29.81 million. Kornit Digital had a positive return on equity of 7.05% and a negative net margin of 0.29%. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the business posted $0.02 EPS. On average, analysts predict that Kornit Digital will post $0.18 EPS for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in the business. Gilder Gagnon Howe & Co. LLC boosted its stake in Kornit Digital by 14.5% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,910,209 shares of the industrial products company’s stock valued at $36,963,000 after purchasing an additional 242,177 shares during the last quarter. Stephens Investment Management Group LLC boosted its stake in Kornit Digital by 64.2% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,269,012 shares of the industrial products company’s stock valued at $24,555,000 after purchasing an additional 496,117 shares during the last quarter. Schroder Investment Management Group boosted its stake in Kornit Digital by 0.5% during the 2nd quarter. Schroder Investment Management Group now owns 1,065,848 shares of the industrial products company’s stock valued at $20,837,000 after purchasing an additional 5,178 shares during the last quarter. Granahan Investment Management Inc. MA boosted its stake in Kornit Digital by 273.6% during the 1st quarter. Granahan Investment Management Inc. MA now owns 878,313 shares of the industrial products company’s stock valued at $16,776,000 after purchasing an additional 643,213 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Kornit Digital by 362.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 861,802 shares of the industrial products company’s stock valued at $16,676,000 after purchasing an additional 675,569 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Kornit Digital Company Profile

Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.

Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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