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

Kornit Digital Ltd. (NASDAQ:KRNT) has been given an average recommendation of “Hold” by the five research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $20.25.

KRNT has been the topic of several research reports. Morgan Stanley reiterated a “positive” rating and issued a $17.00 price target on shares of Kornit Digital in a report on Wednesday, February 11th. Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of Kornit Digital in a research note on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kornit Digital in a report on Friday, December 26th. Finally, Wall Street Zen upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th.

Kornit Digital Stock Performance

KRNT stock opened at $14.41 on Wednesday. Kornit Digital has a one year low of $11.93 and a one year high of $23.48. The firm has a market cap of $645.42 million, a price-to-earnings ratio of -46.48 and a beta of 1.79. The firm has a 50-day simple moving average of $14.66 and a two-hundred day simple moving average of $14.19.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings data on Wednesday, February 11th. The industrial products company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Kornit Digital had a negative net margin of 6.49% and a negative return on equity of 1.07%. The firm had revenue of $58.86 million for the quarter, compared to the consensus estimate of $58.16 million. During the same quarter in the previous year, the firm earned $0.18 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, equities analysts predict that Kornit Digital will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kornit Digital

Hedge funds and other institutional investors have recently made changes to their positions in the company. Medina Value Partners LLC acquired a new stake in shares of Kornit Digital during the 3rd quarter valued at about $12,732,000. Invenomic Capital Management LP grew its holdings in Kornit Digital by 196.9% in the fourth quarter. Invenomic Capital Management LP now owns 1,397,950 shares of the industrial products company’s stock valued at $20,103,000 after purchasing an additional 927,169 shares during the period. Morgan Stanley increased its position in shares of Kornit Digital by 26.5% in the fourth quarter. Morgan Stanley now owns 3,998,548 shares of the industrial products company’s stock valued at $57,499,000 after buying an additional 838,814 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Kornit Digital by 32.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,647,804 shares of the industrial products company’s stock worth $38,075,000 after buying an additional 650,283 shares during the period. Finally, Dudley & Shanley Inc. lifted its position in shares of Kornit Digital by 97.5% during the 3rd 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 in the last quarter. Institutional investors and hedge funds 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.