Kornit Digital Ltd. (NASDAQ:KRNT) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have earned a consensus rating of “Buy” from the five brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $34.00.

Several equities analysts have commented on the company. Needham & Company LLC upped their price target on Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Cantor Fitzgerald raised Kornit Digital to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Morgan Stanley upped their price target on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, December 16th.

Institutional Investors Weigh In On Kornit Digital

Several large investors have recently modified their holdings of KRNT. Fifth Third Bancorp grew its stake in shares of Kornit Digital by 23.4% in the 4th quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 393 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Kornit Digital by 654.5% in the 4th quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 1,800 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Kornit Digital by 35.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 988 shares during the period. Deutsche Bank AG grew its stake in shares of Kornit Digital by 31.5% in the 4th quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company’s stock valued at $148,000 after purchasing an additional 1,143 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in shares of Kornit Digital in the 4th quarter valued at approximately $159,000. 92.76% of the stock is currently owned by institutional investors.

Kornit Digital Stock Performance

NASDAQ KRNT opened at $21.34 on Thursday. Kornit Digital has a twelve month low of $13.59 and a twelve month high of $34.29. The stock has a market capitalization of $1.01 billion, a PE ratio of -60.97 and a beta of 2.12. The stock has a 50-day simple moving average of $27.61 and a 200 day simple moving average of $27.09.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. As a group, equities research analysts forecast that Kornit Digital will post -0.2 EPS for the current fiscal year.

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.