Kornit Digital Ltd. (KRNT) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of Kornit Digital Ltd. (NASDAQ:KRNT) from a hold rating to a sell rating in a research report report published on Wednesday morning.

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. “

KRNT has been the topic of several other research reports. BidaskClub downgraded shares of Kornit Digital from a hold rating to a sell rating in a research note on Thursday, August 10th. Barclays PLC dropped their target price on shares of Kornit Digital from $22.00 to $18.00 and set an overweight rating on the stock in a research note on Wednesday, September 27th. Stifel Nicolaus dropped their target price on shares of Kornit Digital from $20.00 to $18.00 and set a buy rating on the stock in a research note on Wednesday, September 27th. Craig Hallum dropped their target price on shares of Kornit Digital from $20.00 to $26.00 in a research note on Thursday, September 28th. Finally, Needham & Company LLC dropped their target price on shares of Kornit Digital from $22.00 to $19.00 and set a buy rating on the stock in a research note on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. Kornit Digital currently has a consensus rating of Hold and an average price target of $18.83.

Kornit Digital (NASDAQ KRNT) opened at 14.90 on Wednesday. The company’s market cap is $502.65 million. Kornit Digital has a 52-week low of $9.00 and a 52-week high of $19.30. The firm’s 50 day moving average is $16.75 and its 200 day moving average is $16.75.

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 consensus estimate of $0.02 by $0.04. The firm had revenue of $28.59 million for the quarter, compared to the consensus estimate of $29.81 million. Kornit Digital had a negative net margin of 0.29% and a positive return on equity of 7.05%. The business’s revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 earnings per share. Analysts forecast that Kornit Digital will post $0.18 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Kornit Digital Ltd. (KRNT) Downgraded by Zacks Investment Research to Sell” was first published by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this piece of content on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://transcriptdaily.com/2017/10/08/kornit-digital-ltd-krnt-downgraded-by-zacks-investment-research-to-sell.html.

A number of institutional investors have recently modified their holdings of the stock. Falcon Point Capital LLC lifted its position in Kornit Digital by 2.2% during the second quarter. Falcon Point Capital LLC now owns 100,873 shares of the industrial products company’s stock valued at $1,952,000 after purchasing an additional 2,152 shares during the period. Van ECK Associates Corp lifted its position in Kornit Digital by 49.4% during the second quarter. Van ECK Associates Corp now owns 7,813 shares of the industrial products company’s stock valued at $151,000 after purchasing an additional 2,583 shares during the period. Cowen Prime Services LLC lifted its position in Kornit Digital by 104.8% during the second quarter. Cowen Prime Services LLC now owns 6,058 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 3,100 shares during the period. Swiss National Bank lifted its position in Kornit Digital by 8.7% during the second quarter. Swiss National Bank now owns 41,300 shares of the industrial products company’s stock valued at $799,000 after purchasing an additional 3,300 shares during the period. Finally, Sei Investments Co. lifted its position in Kornit Digital by 37.1% during the second quarter. Sei Investments Co. now owns 12,487 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 3,376 shares during the period. Institutional investors own 73.33% of the company’s stock.

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.

Get a free copy of the Zacks research report on Kornit Digital (KRNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

Receive News & Ratings for Kornit Digital Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kornit Digital Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply