Kornit Digital Ltd. (KRNT) Receives $22.33 Average PT from Analysts
Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have received an average rating of “Buy” from the nine ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $22.33.
A number of research analysts recently weighed in on KRNT shares. Zacks Investment Research lowered shares of Kornit Digital from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. Craig Hallum initiated coverage on shares of Kornit Digital in a report on Tuesday, July 11th. They issued a “buy” rating and a $26.00 price objective for the company. Barclays PLC increased their price objective on shares of Kornit Digital from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, May 10th. BidaskClub downgraded shares of Kornit Digital from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $24.00 price objective on shares of Kornit Digital in a report on Tuesday, August 8th.
Kornit Digital (NASDAQ KRNT) traded down 2.06% during midday trading on Tuesday, reaching $16.65. The company’s stock had a trading volume of 40,320 shares. Kornit Digital has a one year low of $8.90 and a one year high of $23.15. The stock’s 50 day moving average price is $18.62 and its 200-day moving average price is $18.55. The stock’s market cap is $560.41 million.
Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. The firm had revenue of $28.59 million for the quarter, compared to analyst estimates of $29.81 million. Kornit Digital had a negative net margin of 0.29% and a positive return on equity of 7.05%. Kornit Digital’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period last year, the company posted $0.02 EPS. On average, analysts forecast that Kornit Digital will post $0.42 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. United Services Automobile Association increased its stake 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 worth $8,469,000 after buying an additional 318,890 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Kornit Digital during the fourth quarter valued at $218,000. Russell Investments Group Ltd. bought a new stake in Kornit Digital during the first quarter valued at $3,557,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in Kornit Digital during the first quarter valued at $1,627,000. Finally, Lebenthal Lisanti Capital Growth LLC increased its stake in Kornit Digital by 90.0% in the second quarter. Lebenthal Lisanti Capital Growth LLC now owns 46,857 shares of the industrial products company’s stock valued at $907,000 after buying an additional 22,197 shares during the period. Institutional investors and hedge funds own 73.83% of the company’s stock.
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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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