Kornit Digital Ltd. (NASDAQ:KRNT) Receives $33.20 Average Target Price from Analysts

Kornit Digital Ltd. (NASDAQ:KRNT) has received an average recommendation of “Buy” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $33.20.

KRNT has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of Kornit Digital in a research note on Thursday, May 15th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of Kornit Digital in a research note on Thursday, June 5th.

Institutional Trading of Kornit Digital

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kornitzer Capital Management Inc. KS grew its holdings in Kornit Digital by 1.1% during the second quarter. Kornitzer Capital Management Inc. KS now owns 366,505 shares of the industrial products company’s stock worth $7,297,000 after acquiring an additional 4,000 shares during the period. Stephens Investment Management Group LLC grew its holdings in Kornit Digital by 12.8% in the second quarter. Stephens Investment Management Group LLC now owns 1,526,904 shares of the industrial products company’s stock valued at $30,401,000 after purchasing an additional 173,492 shares during the period. Thompson Investment Management Inc. grew its holdings in Kornit Digital by 1.8% in the second quarter. Thompson Investment Management Inc. now owns 293,007 shares of the industrial products company’s stock valued at $5,834,000 after purchasing an additional 5,208 shares during the period. Blair William & Co. IL grew its holdings in Kornit Digital by 19.4% in the second quarter. Blair William & Co. IL now owns 519,574 shares of the industrial products company’s stock valued at $10,345,000 after purchasing an additional 84,593 shares during the period. Finally, Fortitude Family Office LLC acquired a new stake in Kornit Digital in the second quarter valued at approximately $99,000. 92.76% of the stock is owned by institutional investors and hedge funds.

Kornit Digital Price Performance

Shares of NASDAQ KRNT opened at $19.18 on Friday. The stock has a market capitalization of $912.01 million, a P/E ratio of -106.55 and a beta of 1.90. Kornit Digital has a 1-year low of $13.91 and a 1-year high of $34.28. The business has a fifty day moving average price of $20.59 and a 200 day moving average price of $21.90.

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.