Kornit Digital Ltd. (NASDAQ:KRNT) Receives Average Recommendation of “Buy” from Analysts

Kornit Digital Ltd. (NASDAQ:KRNTGet Rating) has received an average rating of “Buy” from the eight brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $173.80.

A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Kornit Digital from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 20th. Needham & Company LLC dropped their price objective on Kornit Digital from $202.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, April 21st. Finally, StockNews.com began coverage on Kornit Digital in a research note on Thursday, March 31st. They set a “sell” rating on the stock.

A number of large investors have recently added to or reduced their stakes in KRNT. Meeder Asset Management Inc. purchased a new position in shares of Kornit Digital in the 1st quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Kornit Digital in the 1st quarter valued at approximately $28,000. Schroder Investment Management Group purchased a new position in shares of Kornit Digital in the 4th quarter valued at approximately $30,000. HM Payson & Co. purchased a new position in shares of Kornit Digital in the 4th quarter valued at approximately $39,000. Finally, Signaturefd LLC grew its stake in shares of Kornit Digital by 135.6% in the 1st quarter. Signaturefd LLC now owns 549 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 316 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Shares of KRNT traded down $2.86 during mid-day trading on Friday, reaching $39.95. The company’s stock had a trading volume of 14,711 shares, compared to its average volume of 992,391. Kornit Digital has a 12-month low of $31.01 and a 12-month high of $181.38. The stock has a market cap of $1.98 billion, a PE ratio of 334.03 and a beta of 1.91. The company’s 50 day moving average is $70.53 and its 200 day moving average is $106.61.

Kornit Digital (NASDAQ:KRNTGet Rating) last released its quarterly earnings data on Tuesday, February 15th. The industrial products company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). Kornit Digital had a net margin of 1.54% and a return on equity of 1.63%. The business had revenue of $95.40 million during the quarter, compared to analysts’ expectations of $89.99 million. During the same quarter in the previous year, the company posted $0.19 EPS. The company’s revenue was up 28.7% compared to the same quarter last year. Sell-side analysts forecast that Kornit Digital will post 0.77 EPS for the current fiscal year.

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 in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company's solutions include digital printing systems, ink and other consumables, associated software, and value-added services.

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Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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