Kornit Digital Ltd. (NASDAQ:KRNT) Receives $20.75 Average PT from Analysts

Kornit Digital Ltd. (NASDAQ:KRNT) has been assigned an average recommendation of “Hold” from the five research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $21.00.

KRNT has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Kornit Digital in a research note on Wednesday, March 25th. Needham & Company LLC increased their price objective on shares of Kornit Digital from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Morgan Stanley increased their price objective on shares of Kornit Digital from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Wall Street Zen upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Sunday, April 12th.

Hedge Funds Weigh In On Kornit Digital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its position in Kornit Digital by 6.9% in the 4th quarter. Van ECK Associates Corp now owns 12,742 shares of the industrial products company’s stock valued at $183,000 after acquiring an additional 820 shares during the period. Public Employees Retirement System of Ohio increased its position in Kornit Digital by 11.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 12,200 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 1,300 shares during the period. Raymond James Financial Inc. acquired a new position in Kornit Digital in the 2nd quarter valued at approximately $31,000. State of Tennessee Department of Treasury acquired a new position in Kornit Digital in the 2nd quarter valued at approximately $35,000. Finally, CIBC Private Wealth Group LLC increased its position in 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 acquiring an additional 1,795 shares during the period. 92.76% of the stock is currently owned by institutional investors and hedge funds.

Kornit Digital Price Performance

Shares of NASDAQ:KRNT opened at $15.80 on Friday. The company has a market cap of $707.76 million, a price-to-earnings ratio of -40.51 and a beta of 1.75. The firm has a 50 day simple moving average of $15.82 and a 200 day simple moving average of $15.06. Kornit Digital has a one year low of $11.93 and a one year high of $22.06.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings data on Wednesday, May 13th. The industrial products company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $48.54 million during the quarter, compared to the consensus estimate of $46.67 million. Kornit Digital had a negative net margin of 7.93% and a negative return on equity of 1.15%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 EPS. As a group, analysts expect that Kornit Digital will post -0.17 EPS for the current year.

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.