Kornit Digital Ltd. (NASDAQ:KRNT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, July 12th.
According to Zacks, “Kornit Digital, Ltd. is engaged in developing, manufacturing and marketing industrial and commercial printing solutions. The company offers a portfolio of direct to garment printers from entry level to mass production; NeoPigment ink solutions; roll to roll printers and pretereatment systems and software for the garment and textile printing industry. Kornit Digital, Ltd. is headquartered in Rosh-Ha`Ayin, Israel. “
Other equities analysts have also recently issued research reports about the company. Craig Hallum initiated coverage on Kornit Digital in a report on Tuesday, July 11th. They set a “buy” rating and a $26.00 target price on the stock. Citigroup Inc. set a $22.00 target price on Kornit Digital and gave the stock a “buy” rating in a report on Tuesday, April 25th. William Blair restated an “outperform” rating on shares of Kornit Digital in a report on Friday, March 24th. Finally, Barclays PLC raised their target price on Kornit Digital from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, May 10th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $21.86.
Shares of Kornit Digital (NASDAQ KRNT) opened at 18.65 on Wednesday. Kornit Digital has a one year low of $8.90 and a one year high of $23.15. The firm has a 50-day moving average of $20.25 and a 200-day moving average of $18.60. The firm’s market capitalization is $609.07 million.
Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Monday, August 7th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. Kornit Digital had a positive return on equity of 5.95% and a negative net margin of 0.60%. The firm had revenue of $28.59 million for the quarter, compared to analysts’ expectations of $29.81 million. During the same quarter last year, the business earned $0.02 earnings per share. The company’s revenue was up 19.4% compared to the same quarter last year. On average, equities analysts predict that Kornit Digital will post $0.42 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in KRNT. Falcon Point Capital LLC raised its stake in Kornit Digital by 2.2% in the second quarter. Falcon Point Capital LLC now owns 100,873 shares of the industrial products company’s stock worth $1,952,000 after buying an additional 2,152 shares in the last quarter. Cowen Prime Services LLC raised its stake in Kornit Digital by 104.8% in the second quarter. Cowen Prime Services LLC now owns 6,058 shares of the industrial products company’s stock worth $117,000 after buying an additional 3,100 shares in the last quarter. Sei Investments Co. raised its stake in Kornit Digital by 37.1% in the second quarter. Sei Investments Co. now owns 12,487 shares of the industrial products company’s stock worth $242,000 after buying an additional 3,376 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in Kornit Digital during the second quarter worth approximately $101,000. Finally, Eagle Global Advisors LLC raised its stake in Kornit Digital by 23.3% in the second quarter. Eagle Global Advisors LLC now owns 42,266 shares of the industrial products company’s stock worth $818,000 after buying an additional 8,000 shares in the last quarter. 63.29% of the stock is currently owned by institutional investors.
About Kornit Digital
Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.
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