Kornit Digital Ltd. (KRNT) Given Average Rating of “Buy” by Analysts
Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have been given a consensus recommendation of “Buy” by the eight brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $22.00.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Wednesday. Craig Hallum assumed coverage on shares of Kornit Digital in a report on Tuesday. They issued a “buy” rating and a $26.00 price objective for the company. Barclays PLC lifted their price objective on shares of Kornit Digital from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, May 10th. Citigroup Inc. set a $22.00 price target on shares of Kornit Digital and gave the company a “buy” rating in a report on Tuesday, April 25th. Finally, William Blair reissued an “outperform” rating on shares of Kornit Digital in a report on Friday, March 24th.
Shares of Kornit Digital (NASDAQ:KRNT) traded up 1.43% during mid-day trading on Monday, reaching $21.25. 167,639 shares of the company were exchanged. The company’s 50-day moving average is $18.95 and its 200 day moving average is $17.49. The firm’s market capitalization is $693.98 million. Kornit Digital has a 12 month low of $8.90 and a 12 month high of $23.15.
Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Tuesday, May 9th. The industrial products company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.04. The business had revenue of $27.10 million during the quarter, compared to analyst estimates of $29.20 million. Kornit Digital had a positive return on equity of 5.95% and a negative net margin of 0.60%. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 EPS. Analysts predict that Kornit Digital will post $0.42 EPS for the current year.
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Institutional investors have recently made changes to their positions in the stock. United Services Automobile Association increased its position in shares of Kornit Digital by 256.1% in the first quarter. United Services Automobile Association now owns 443,390 shares of the industrial products company’s stock valued at $8,469,000 after buying an additional 318,890 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Kornit Digital during the fourth quarter valued at about $218,000. Russell Investments Group Ltd. purchased a new position in shares of Kornit Digital during the first quarter valued at about $3,557,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Kornit Digital during the first quarter valued at about $1,627,000. Finally, Next Century Growth Investors LLC purchased a new position in shares of Kornit Digital during the first quarter valued at about $3,493,000. 58.69% of the stock is owned by institutional investors.
About Kornit Digital
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.
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