Kornit Digital (NASDAQ:KRNT) Price Target Lowered to $26.00 at Cantor Fitzgerald

Kornit Digital (NASDAQ:KRNT) had its price objective lowered by Cantor Fitzgerald from $28.50 to $26.00 in a research note issued to investors on Thursday morning, MarketBeat reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

A number of other research firms have also recently issued reports on KRNT. Needham & Company LLC reduced their price objective on Kornit Digital from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday. Morgan Stanley restated an “equal weight” rating and set a $15.00 price target (down from $20.00) on shares of Kornit Digital in a report on Thursday. Weiss Ratings reissued a “sell (e+)” rating on shares of Kornit Digital in a research report on Wednesday, October 8th. Finally, Barclays set a $22.00 price target on shares of Kornit Digital and gave the company an “equal weight” rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.75.

Kornit Digital Price Performance

NASDAQ KRNT traded up $0.08 on Thursday, hitting $13.21. 330,254 shares of the company were exchanged, compared to its average volume of 339,954. Kornit Digital has a twelve month low of $11.93 and a twelve month high of $34.28. The firm has a market capitalization of $591.74 million, a P/E ratio of -52.84 and a beta of 1.94. The company’s 50 day moving average price is $14.12 and its 200-day moving average price is $17.59.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, November 5th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $53.13 million during the quarter, compared to analyst estimates of $51.79 million. Kornit Digital had a negative return on equity of 0.74% and a negative net margin of 5.43%.The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. Kornit Digital has set its Q4 2025 guidance at EPS. As a group, equities analysts expect that Kornit Digital will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. grew its holdings in shares of Kornit Digital by 21.7% in the 1st quarter. Polar Asset Management Partners Inc. now owns 584,460 shares of the industrial products company’s stock worth $11,151,000 after purchasing an additional 104,017 shares during the last quarter. Jump Financial LLC bought a new position in Kornit Digital during the 1st quarter valued at about $456,000. Nuveen LLC acquired a new position in Kornit Digital in the first quarter valued at about $739,000. New York State Common Retirement Fund boosted its position in 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 in the last quarter. Finally, CenterBook Partners LP bought a new stake in Kornit Digital during the first quarter worth about $663,000. Institutional investors own 92.76% of the company’s stock.

Kornit Digital Company Profile

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.