Kornit Digital (NASDAQ:KRNT) Upgraded at Zacks Investment Research

Kornit Digital (NASDAQ:KRNTGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Kornit Digital, Ltd. is engaged in developing, manufacturing and marketing industrial and commercial printing solutions. The company offers a portfolio of direct to garment printers from entry level to mass production; NeoPigment ink solutions; roll to roll printers and pretereatment systems and software for the garment and textile printing industry. Kornit Digital, Ltd. is headquartered in Rosh-Ha`Ayin, Israel. “

KRNT has been the topic of several other research reports. StockNews.com initiated coverage on shares of Kornit Digital in a research note on Thursday, March 31st. They set a “sell” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $202.00 price target on shares of Kornit Digital in a research note on Thursday, December 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $183.20.

Shares of KRNT opened at $72.83 on Wednesday. The firm’s 50-day moving average is $83.50 and its two-hundred day moving average is $120.79. Kornit Digital has a twelve month low of $69.02 and a twelve month high of $181.38. The firm has a market capitalization of $3.61 billion, a P/E ratio of 220.70 and a beta of 1.87.

Kornit Digital (NASDAQ:KRNTGet Rating) last released its quarterly earnings results on Tuesday, February 15th. The industrial products company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.12). The business had revenue of $95.40 million during the quarter, compared to analyst estimates of $89.99 million. Kornit Digital had a net margin of 4.82% and a return on equity of 3.51%. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. Sell-side analysts predict that Kornit Digital will post 0.77 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Schroder Investment Management Group purchased a new position in shares of Kornit Digital in the 4th quarter valued at $30,000. HM Payson & Co. purchased a new position in shares of Kornit Digital in the 4th quarter valued at $39,000. Spire Wealth Management raised its stake in shares of Kornit Digital by 891.2% in the 4th quarter. Spire Wealth Management now owns 565 shares of the industrial products company’s stock valued at $86,000 after acquiring an additional 508 shares during the period. First Horizon Advisors Inc. grew its holdings in Kornit Digital by 182.2% during the 4th quarter. First Horizon Advisors Inc. now owns 604 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 390 shares in the last quarter. Finally, KBC Group NV acquired a new stake in Kornit Digital during the 4th quarter valued at $117,000. 92.04% of the stock is currently owned by institutional investors and hedge funds.

About Kornit Digital (Get Rating)

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry worldwide. The company's solutions include digital printing systems, ink and other consumables, associated software, and value-added services.

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