Kornit Digital (NASDAQ:KRNT) Stock Price Up 3.9% – Should You Buy?

Kornit Digital Ltd. (NASDAQ:KRNT)’s stock price rose 3.9% on Monday. The stock traded as high as $15.51 and last traded at $15.7640. 7,013 shares traded hands during trading, a decline of 98% from the average daily volume of 306,281 shares. The stock had previously closed at $15.17.

Analysts Set New Price Targets

Several brokerages have issued reports on KRNT. Needham & Company LLC lifted their target price on shares of Kornit Digital from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings downgraded shares of Kornit Digital from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 16th. Zacks Research upgraded shares of Kornit Digital from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Finally, Morgan Stanley upped their price objective on Kornit Digital from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $21.50.

Kornit Digital Price Performance

The business has a 50-day simple moving average of $16.13 and a 200 day simple moving average of $15.74. The firm has a market cap of $666.68 million, a PE ratio of -32.21 and a beta of 1.74.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Wednesday, August 12th. The industrial products company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.05. The company had revenue of $55.32 million during the quarter, compared to the consensus estimate of $52.80 million. Kornit Digital had a negative net margin of 9.42% and a negative return on equity of 1.00%. Kornit Digital’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. On average, equities analysts forecast that Kornit Digital Ltd. will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kornit Digital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its position in Kornit Digital by 78.3% during the second quarter. Tidal Investments LLC now owns 68,838 shares of the industrial products company’s stock valued at $1,119,000 after acquiring an additional 30,233 shares during the last quarter. Engineers Gate Manager LP purchased a new position in Kornit Digital in the second quarter worth $300,000. Lone Peak Global Investors LLC increased its position in shares of Kornit Digital by 2.6% during the second quarter. Lone Peak Global Investors LLC now owns 36,069 shares of the industrial products company’s stock worth $586,000 after purchasing an additional 908 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Kornit Digital during the 2nd quarter valued at $224,000. Finally, American Capital Management Inc. purchased a new stake in shares of Kornit Digital during the 2nd quarter valued at $4,598,000. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

About Kornit Digital

Kornit Digital Ltd. (NASDAQ: KRNT) develops and manufactures digital printing technologies for the textile, apparel, and related consumer-product industries. Its solutions are designed to support on-demand, short-run, and customized production, helping businesses reduce reliance on traditional analog printing processes.

The company’s product portfolio includes direct-to-garment and direct-to-fabric printing systems, digital printing inks, pretreatment solutions, and workflow software. Kornit also provides related services and support intended to help customers manage design, production, color, and order fulfillment across textile-printing operations.

Kornit serves customers globally, including apparel brands, retailers, manufacturers, print service providers, and e-commerce businesses.