Kornit Digital (NASDAQ:KRNT) Cut to Hold at Craig Hallum

Kornit Digital (NASDAQ:KRNTGet Rating) was downgraded by equities research analysts at Craig Hallum from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, The Fly reports.

KRNT has been the topic of several other research reports. Citigroup dropped their target price on shares of Kornit Digital from $90.00 to $50.00 in a research note on Wednesday. StockNews.com started coverage on shares of Kornit Digital in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. TheStreet downgraded shares of Kornit Digital from a “c-” rating to a “d+” rating in a research note on Thursday, June 2nd. Needham & Company LLC dropped their target price on shares of Kornit Digital from $75.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus downgraded shares of Kornit Digital from a “buy” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Kornit Digital currently has an average rating of “Hold” and a consensus price target of $133.67.

NASDAQ:KRNT opened at $31.56 on Wednesday. The company’s 50-day simple moving average is $43.62 and its 200 day simple moving average is $78.68. The firm has a market capitalization of $1.57 billion, a P/E ratio of 263.02 and a beta of 2.00. Kornit Digital has a one year low of $30.43 and a one year high of $181.38.

Kornit Digital (NASDAQ:KRNTGet Rating) last issued its earnings results on Wednesday, May 11th. The industrial products company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.18). The firm had revenue of $83.29 million during the quarter, compared to the consensus estimate of $88.60 million. Kornit Digital had a return on equity of 1.63% and a net margin of 1.54%. As a group, analysts anticipate that Kornit Digital will post -0.07 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. William Blair Investment Management LLC increased its stake in shares of Kornit Digital by 192.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,043,608 shares of the industrial products company’s stock worth $158,889,000 after purchasing an additional 686,870 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Kornit Digital by 754.3% in the fourth quarter. Alliancebernstein L.P. now owns 739,735 shares of the industrial products company’s stock worth $112,625,000 after purchasing an additional 653,143 shares in the last quarter. Artemis Investment Management LLP increased its stake in shares of Kornit Digital by 82.7% in the first quarter. Artemis Investment Management LLP now owns 1,031,789 shares of the industrial products company’s stock worth $85,230,000 after purchasing an additional 466,994 shares in the last quarter. State Street Corp increased its stake in shares of Kornit Digital by 114.0% in the fourth quarter. State Street Corp now owns 658,008 shares of the industrial products company’s stock worth $100,182,000 after purchasing an additional 350,590 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Kornit Digital by 1,009.6% in the fourth quarter. Legal & General Group Plc now owns 338,804 shares of the industrial products company’s stock worth $51,583,000 after purchasing an additional 308,269 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Kornit Digital Company Profile (Get Rating)

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company's solutions include digital printing systems, ink and other consumables, associated software, and value-added services.

Read More

The Fly logo

Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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