Kornit Digital Ltd. (NASDAQ:KRNT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Kornit Digital Ltd. (NASDAQ:KRNT) has earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $31.40.

Several research firms have weighed in on KRNT. Barclays set a $22.00 price objective on Kornit Digital and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Kornit Digital in a research report on Wednesday, October 8th. Finally, Needham & Company LLC cut their price objective on Kornit Digital from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th.

Kornit Digital Price Performance

NASDAQ KRNT opened at $14.25 on Tuesday. Kornit Digital has a 1 year low of $12.78 and a 1 year high of $34.28. The firm has a market cap of $638.33 million, a price-to-earnings ratio of -57.00 and a beta of 1.90. The company has a fifty day moving average price of $14.29 and a 200-day moving average price of $17.73.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Kornit Digital had a negative net margin of 5.43% and a negative return on equity of 0.74%. The firm had revenue of $49.75 million during the quarter, compared to analyst estimates of $52.07 million. During the same quarter in the prior year, the business posted $0.02 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. On average, research analysts anticipate that Kornit Digital will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KRNT. Acuitas Investments LLC purchased a new position in Kornit Digital in the first quarter worth $695,000. Teacher Retirement System of Texas raised its stake in shares of Kornit Digital by 69.4% in the first quarter. Teacher Retirement System of Texas now owns 21,584 shares of the industrial products company’s stock valued at $412,000 after buying an additional 8,845 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Kornit Digital by 9.2% in the first quarter. Bank of New York Mellon Corp now owns 13,539 shares of the industrial products company’s stock valued at $258,000 after buying an additional 1,141 shares during the period. New York State Common Retirement Fund raised its stake in shares of Kornit Digital by 9.1% in the first quarter. New York State Common Retirement Fund now owns 189,173 shares of the industrial products company’s stock valued at $3,609,000 after buying an additional 15,803 shares during the period. Finally, Stephens Investment Management Group LLC raised its stake in shares of Kornit Digital by 0.8% in the first quarter. Stephens Investment Management Group LLC now owns 1,353,412 shares of the industrial products company’s stock valued at $25,823,000 after buying an additional 11,091 shares during the period. Hedge funds and other institutional investors own 92.76% of the company’s stock.

About Kornit Digital

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. Its solutions include digital printing systems, ink and other consumables, associated software, and value-added services.