Kornit Digital Ltd (KRNT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Kornit Digital Ltd (NASDAQ:KRNT) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $18.67.

A number of equities analysts recently issued reports on KRNT shares. Zacks Investment Research cut Kornit Digital from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. BidaskClub cut Kornit Digital from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Canaccord Genuity restated a “buy” rating and set a $18.00 price objective (down previously from $24.00) on shares of Kornit Digital in a report on Wednesday, September 27th. Citigroup cut Kornit Digital from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $21.50 to $14.00 in a report on Wednesday, September 27th. Finally, Needham & Company LLC dropped their price objective on Kornit Digital from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, September 27th.

Kornit Digital (NASDAQ:KRNT) traded down $0.25 on Thursday, reaching $16.15. The company had a trading volume of 208,300 shares, compared to its average volume of 340,815. Kornit Digital has a one year low of $12.05 and a one year high of $23.15. The stock has a market cap of $553.26, a PE ratio of 82.00, a P/E/G ratio of 4.73 and a beta of 0.18.

A number of hedge funds and other institutional investors have recently modified their holdings of KRNT. Public Employees Retirement Association of Colorado bought a new stake in Kornit Digital during the 2nd quarter valued at $101,000. Cowen Prime Services LLC raised its position in shares of Kornit Digital by 104.8% in the 2nd quarter. Cowen Prime Services LLC now owns 6,058 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 3,100 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Kornit Digital by 49.4% in the 2nd quarter. Van ECK Associates Corp now owns 7,813 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 2,583 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Kornit Digital by 1,540.0% in the 2nd quarter. Wells Fargo & Company MN now owns 8,200 shares of the industrial products company’s stock worth $159,000 after acquiring an additional 7,700 shares in the last quarter. Finally, BlueCrest Capital Management Ltd bought a new position in shares of Kornit Digital in the 2nd quarter worth $198,000. 78.84% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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