Kornit Digital Ltd. (NASDAQ:KRNT) Given Consensus Rating of “Hold” by Analysts

Kornit Digital Ltd. (NASDAQ:KRNT) has received an average recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $20.75.

Several equities research analysts have weighed in on KRNT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kornit Digital in a report on Wednesday, March 25th. Needham & Company LLC increased their price objective on Kornit Digital from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Wall Street Zen upgraded Kornit Digital from a “sell” rating to a “hold” rating in a report on Sunday, April 12th. Finally, Morgan Stanley reiterated a “positive” rating and issued a $17.00 price objective on shares of Kornit Digital in a report on Wednesday, February 11th.

Kornit Digital Price Performance

Shares of KRNT stock opened at $16.13 on Monday. The stock has a market capitalization of $722.54 million, a PE ratio of -41.36 and a beta of 1.76. Kornit Digital has a 1-year low of $11.93 and a 1-year high of $23.32. The business has a 50-day moving average of $15.43 and a 200 day moving average of $14.65.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Wednesday, May 13th. The industrial products company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Kornit Digital had a negative return on equity of 1.15% and a negative net margin of 7.93%.The business had revenue of $48.54 million during the quarter, compared to analysts’ expectations of $46.67 million. During the same quarter last year, the business posted $0.01 EPS. The business’s revenue was up 4.4% on a year-over-year basis. Analysts anticipate that Kornit Digital will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Kornit Digital

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in Kornit Digital in the 2nd quarter worth approximately $31,000. State of Tennessee Department of Treasury purchased a new position in shares of Kornit Digital in the 2nd quarter valued at approximately $35,000. CIBC Private Wealth Group LLC lifted its stake in shares of 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 valued at $26,000 after purchasing an additional 1,795 shares during the period. Johnson Financial Group Inc. purchased a new stake in Kornit Digital in the third quarter worth $27,000. Finally, Headlands Technologies LLC grew its stake in Kornit Digital by 84.5% in the second quarter. Headlands Technologies LLC now owns 9,807 shares of the industrial products company’s stock worth $195,000 after purchasing an additional 4,491 shares during the period. Hedge funds and other institutional investors own 92.76% of the company’s stock.

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.