BidaskClub cut shares of Kornit Digital Ltd. (NASDAQ:KRNT) from a strong-buy rating to a buy rating in a research report released on Tuesday morning.

Other equities analysts also recently issued reports about the company. Craig Hallum assumed coverage on Kornit Digital in a research report on Tuesday, July 11th. They issued a buy rating and a $26.00 target price for the company. Zacks Investment Research downgraded Kornit Digital from a hold rating to a sell rating in a research report on Tuesday, May 16th. Citigroup Inc. set a $22.00 target price on Kornit Digital and gave the company a buy rating in a research report on Tuesday, April 25th. Finally, Barclays PLC increased their target price on Kornit Digital from $20.00 to $22.00 and gave the company an overweight rating in a research report on Wednesday, May 10th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Kornit Digital presently has an average rating of Buy and a consensus target price of $21.50.

Shares of Kornit Digital (NASDAQ KRNT) traded up 0.73% during mid-day trading on Tuesday, reaching $20.75. The company’s stock had a trading volume of 111,899 shares. The company has a 50-day moving average of $20.03 and a 200-day moving average of $18.48. The firm’s market cap is $677.65 million. Kornit Digital has a 12 month low of $8.90 and a 12 month high of $23.15.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Tuesday, May 9th. The industrial products company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by $0.04. The firm had revenue of $27.10 million during the quarter, compared to the consensus estimate of $29.20 million. Kornit Digital had a negative net margin of 0.60% and a positive return on equity of 5.95%. Kornit Digital’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.02 earnings per share. On average, analysts predict that Kornit Digital will post $0.42 earnings per share for the current year.

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Several institutional investors have recently modified their holdings of the company. Essex Investment Management Co. LLC increased its position in shares of Kornit Digital by 100.2% in the second quarter. Essex Investment Management Co. LLC now owns 303,401 shares of the industrial products company’s stock worth $5,871,000 after buying an additional 151,875 shares during the period. Lebenthal Lisanti Capital Growth LLC increased its position in shares of 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 worth $907,000 after buying an additional 22,197 shares during the period. CAPROCK Group Inc. bought a new position in shares of Kornit Digital during the second quarter worth about $265,000. Kornitzer Capital Management Inc. KS increased its position in shares of Kornit Digital by 173.1% in the second quarter. Kornitzer Capital Management Inc. KS now owns 363,485 shares of the industrial products company’s stock worth $7,033,000 after buying an additional 230,385 shares during the period. Finally, Eagle Global Advisors LLC increased its position in shares of Kornit Digital by 23.3% in the second quarter. Eagle Global Advisors LLC now owns 42,266 shares of the industrial products company’s stock worth $818,000 after buying an additional 8,000 shares during the period. Institutional investors own 59.18% 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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