Kornit Digital (NASDAQ:KRNT) Price Target Lowered to $18.00 at Barclays

Kornit Digital (NASDAQ:KRNT) had its target price lowered by Barclays from $22.00 to $18.00 in a report issued on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

Several other research firms have also commented on KRNT. Morgan Stanley reissued an “equal weight” rating and set a $15.00 target price (down from $20.00) on shares of Kornit Digital in a research note on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kornit Digital in a report on Wednesday, October 8th. Cantor Fitzgerald cut their price objective on Kornit Digital from $28.50 to $26.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Needham & Company LLC reduced their price objective on Kornit Digital from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.75.

Kornit Digital Trading Up 0.6%

KRNT stock traded up $0.08 during trading hours on Thursday, hitting $13.21. 330,254 shares of the stock traded hands, compared to its average volume of 339,954. The stock has a 50-day simple moving average of $14.12 and a 200 day simple moving average of $17.59. The company has a market cap of $591.74 million, a P/E ratio of -52.84 and a beta of 1.94. Kornit Digital has a one year low of $11.93 and a one year high of $34.28.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. Kornit Digital had a negative net margin of 5.43% and a negative return on equity of 0.74%. The firm had revenue of $53.13 million for the quarter, compared to analysts’ expectations of $51.79 million. During the same period in the previous year, the business earned $0.11 earnings per share. Kornit Digital’s revenue for the quarter was up 4.7% compared to the same quarter last year. Kornit Digital has set its Q4 2025 guidance at EPS. Analysts forecast that Kornit Digital will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dudley & Shanley Inc. raised its position in Kornit Digital by 97.5% during the third quarter. Dudley & Shanley Inc. now owns 1,258,895 shares of the industrial products company’s stock valued at $16,995,000 after buying an additional 621,595 shares during the period. Hood River Capital Management LLC grew its stake in Kornit Digital by 39.1% during the 2nd quarter. Hood River Capital Management LLC now owns 2,182,569 shares of the industrial products company’s stock valued at $43,455,000 after acquiring an additional 613,070 shares in the last quarter. Thompson Investment Management Inc. grew its stake in Kornit Digital by 169.5% during the 3rd quarter. Thompson Investment Management Inc. now owns 789,761 shares of the industrial products company’s stock valued at $10,662,000 after acquiring an additional 496,754 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Kornit Digital by 79.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 557,873 shares of the industrial products company’s stock valued at $11,107,000 after purchasing an additional 247,763 shares during the period. Finally, Stephens Investment Management Group LLC lifted its position in shares of 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 worth $30,401,000 after purchasing an additional 173,492 shares in the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.

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.