Brokerages Set Kornit Digital Ltd. (NASDAQ:KRNT) Target Price at $21.00

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have been assigned an average recommendation of “Hold” from the five brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $21.00.

A number of research analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Kornit Digital in a research note on Wednesday, March 25th. Morgan Stanley upped their price objective on Kornit Digital from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 23rd. Needham & Company LLC increased their target price on Kornit Digital from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Wall Street Zen upgraded Kornit Digital from a “sell” rating to a “hold” rating in a research report on Sunday, April 12th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC lifted its holdings in shares of Kornit Digital by 1,359.8% during the third quarter. CIBC Private Wealth Group LLC now owns 1,927 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 1,795 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Kornit Digital in the 3rd quarter valued at $27,000. Raymond James Financial Inc. bought a new stake in shares of Kornit Digital in the 2nd quarter worth about $31,000. State of Tennessee Department of Treasury bought a new stake in shares of Kornit Digital in the 2nd quarter worth about $35,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Kornit Digital during the 4th quarter worth about $144,000. 92.76% of the stock is currently owned by institutional investors and hedge funds.

Kornit Digital Stock Performance

Shares of KRNT stock opened at $15.25 on Tuesday. Kornit Digital has a 52-week low of $11.93 and a 52-week high of $22.06. The stock has a market cap of $683.05 million, a price-to-earnings ratio of -39.10 and a beta of 1.73. The firm has a fifty day moving average of $15.77 and a 200-day moving average of $15.23.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Wednesday, May 13th. The industrial products company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $48.54 million during the quarter, compared to the consensus estimate of $46.67 million. Kornit Digital had a negative net margin of 7.93% and a negative return on equity of 1.15%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $0.01 EPS. On average, sell-side analysts predict that Kornit Digital will post -0.28 earnings per share for the current year.

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.