Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have earned a consensus rating of “Buy” from the eight research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $20.80.
A number of analysts have recently issued reports on KRNT shares. Citigroup Inc. set a $22.00 price target on shares of Kornit Digital and gave the company a “buy” rating in a report on Tuesday, April 25th. Zacks Investment Research raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Tuesday, February 28th. William Blair reaffirmed an “outperform” rating on shares of Kornit Digital in a report on Friday, March 24th. Finally, Barclays PLC raised their price target on shares of Kornit Digital from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, May 10th.
Large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its stake in Kornit Digital by 104.3% in the first quarter. Sei Investments Co. now owns 9,111 shares of the industrial products company’s stock valued at $174,000 after buying an additional 4,652 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Kornit Digital during the fourth quarter valued at about $218,000. Boothbay Fund Management LLC bought a new stake in Kornit Digital during the fourth quarter valued at about $247,000. Geode Capital Management LLC boosted its stake in Kornit Digital by 15.9% in the first quarter. Geode Capital Management LLC now owns 16,689 shares of the industrial products company’s stock valued at $318,000 after buying an additional 2,290 shares during the last quarter. Finally, Credit Suisse AG bought a new stake in Kornit Digital during the first quarter valued at about $319,000. Hedge funds and other institutional investors own 58.80% of the company’s stock.
Kornit Digital (KRNT) traded up 1.86% on Tuesday, reaching $19.15. 144,966 shares of the company traded hands. The stock’s 50 day moving average price is $19.28 and its 200 day moving average price is $17.03. The company’s market capitalization is $625.40 million. Kornit Digital has a one year low of $8.48 and a one year high of $23.15.
Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Tuesday, May 9th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by $0.04. The company had revenue of $27.10 million for the quarter, compared to analysts’ expectations of $29.20 million. Kornit Digital had a negative net margin of 0.60% and a positive return on equity of 5.95%. The business’s revenue was up 24.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 EPS. On average, equities research analysts predict that Kornit Digital will post $0.43 EPS for the current fiscal year.
Kornit Digital Company Profile
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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