Kornit Digital Ltd. (NASDAQ:KRNT) Receives Average Rating of “Hold” from Brokerages

Kornit Digital Ltd. (NASDAQ:KRNT) has earned an average rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $20.25.

KRNT has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective on shares of Kornit Digital in a report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kornit Digital in a research note on Wednesday, March 25th. Wall Street Zen cut Kornit Digital from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Morgan Stanley restated a “positive” rating and issued a $17.00 price target on shares of Kornit Digital in a research note on Wednesday, February 11th.

Kornit Digital Price Performance

NASDAQ KRNT opened at $14.77 on Friday. The stock has a market capitalization of $661.62 million, a PE ratio of -47.64 and a beta of 1.79. Kornit Digital has a 1 year low of $11.93 and a 1 year high of $23.48. The business’s 50-day moving average is $14.71 and its 200 day moving average is $14.18.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Wednesday, February 11th. The industrial products company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. The firm had revenue of $58.86 million for the quarter, compared to the consensus estimate of $58.16 million. Kornit Digital had a negative return on equity of 1.07% and a negative net margin of 6.49%.The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 EPS. As a group, equities research analysts anticipate that Kornit Digital will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Kornit Digital

A number of hedge funds have recently modified their holdings of the company. Van ECK Associates Corp lifted its position in shares of Kornit Digital by 6.9% in the fourth quarter. Van ECK Associates Corp now owns 12,742 shares of the industrial products company’s stock valued at $183,000 after acquiring an additional 820 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Kornit Digital by 11.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 12,200 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 1,300 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Kornit Digital during the 2nd quarter valued at approximately $31,000. State of Tennessee Department of Treasury purchased a new position in Kornit Digital in the 2nd quarter worth approximately $35,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in Kornit Digital by 1,359.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,927 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 1,795 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors.

Kornit Digital Company Profile

Kornit Digital Ltd. (NASDAQ: KRNT) is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha’Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company’s flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.