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

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have earned an average recommendation of “Buy” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $33.20.

KRNT has been the topic of a number of analyst reports. Cantor Fitzgerald upgraded shares of Kornit Digital to a “strong-buy” rating in a research report on Thursday, February 27th. Morgan Stanley restated an “overweight” rating on shares of Kornit Digital in a report on Thursday. Finally, Needham & Company LLC increased their price target on shares of Kornit Digital from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, May 15th.

Kornit Digital Stock Performance

Shares of KRNT stock opened at $23.22 on Tuesday. Kornit Digital has a 52-week low of $13.59 and a 52-week high of $34.29. The firm’s 50 day moving average price is $19.43 and its two-hundred day moving average price is $25.84. The stock has a market cap of $1.10 billion, a PE ratio of -66.34 and a beta of 2.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lisanti Capital Growth LLC grew its stake in shares of Kornit Digital by 119.0% in the fourth quarter. Lisanti Capital Growth LLC now owns 213,825 shares of the industrial products company’s stock valued at $6,618,000 after acquiring an additional 116,170 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in Kornit Digital by 4.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company’s stock valued at $41,545,000 after acquiring an additional 57,068 shares in the last quarter. Trexquant Investment LP lifted its position in shares of Kornit Digital by 27.3% during the 4th quarter. Trexquant Investment LP now owns 188,307 shares of the industrial products company’s stock valued at $5,828,000 after acquiring an additional 40,422 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Kornit Digital in the 4th quarter valued at about $5,712,000. Finally, Riverbridge Partners LLC increased its holdings in Kornit Digital by 21.1% in the 4th quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company’s stock valued at $59,643,000 after buying an additional 335,713 shares during the period. 92.76% of the stock is owned by institutional investors and hedge funds.

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.