Kornit Digital Ltd. (NASDAQ:KRNT) Receives $21.00 Consensus Price Target from Analysts

Kornit Digital Ltd. (NASDAQ:KRNTGet Free Report) has earned a consensus rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $21.00.

A number of brokerages recently commented on KRNT. Morgan Stanley upped their target price on Kornit Digital from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 23rd. Zacks Research lowered shares of Kornit Digital from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Finally, Needham & Company LLC lifted their price objective on shares of Kornit Digital from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, May 14th.

Read Our Latest Analysis on KRNT

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. CIBC Private Wealth Group LLC boosted its holdings in Kornit Digital by 1,359.8% in 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 purchasing an additional 1,795 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in Kornit Digital during the 3rd quarter worth about $27,000. Raymond James Financial Inc. purchased a new position in shares of Kornit Digital during the 2nd quarter valued at about $31,000. State of Tennessee Department of Treasury purchased a new position in shares of Kornit Digital during the 2nd quarter valued at about $35,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Kornit Digital in the 4th quarter valued at about $144,000. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Kornit Digital Price Performance

Shares of KRNT stock opened at $16.79 on Friday. The business has a fifty day moving average of $15.84 and a 200 day moving average of $15.36. Kornit Digital has a 1 year low of $11.93 and a 1 year high of $19.78. The firm has a market capitalization of $721.47 million, a price-to-earnings ratio of -43.05 and a beta of 1.72.

Kornit Digital (NASDAQ:KRNTGet Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The industrial products company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $48.54 million for the quarter, compared to the consensus estimate of $46.67 million. Kornit Digital had a negative return on equity of 1.15% and a negative net margin of 7.93%.The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 EPS. As a group, equities research analysts expect that Kornit Digital will post -0.31 earnings per share for the current year.

About Kornit Digital

(Get Free Report)

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.

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Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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