Analysts Set Kornit Digital Ltd. (NASDAQ:KRNT) PT at $33.40

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have earned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $34.00.

Several equities analysts recently commented on KRNT shares. Morgan Stanley upped their target price on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Needham & Company LLC upped their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday. Craig Hallum lifted their price target on shares of Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $39.00 price objective on shares of Kornit Digital in a report on Thursday.

Institutional Trading of Kornit Digital

Institutional investors have recently added to or reduced their stakes in the business. Loomis Sayles & Co. L P lifted its stake in shares of Kornit Digital by 259.7% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company’s stock worth $38,300,000 after purchasing an additional 893,463 shares in the last quarter. AQR Capital Management LLC acquired a new position in Kornit Digital during the 4th quarter worth approximately $14,769,000. Assenagon Asset Management S.A. boosted its holdings in Kornit Digital by 421.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 470,674 shares of the industrial products company’s stock worth $14,567,000 after acquiring an additional 380,392 shares during the period. Artemis Investment Management LLP grew its position in Kornit Digital by 138.2% in the fourth quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company’s stock valued at $19,867,000 after acquiring an additional 372,443 shares in the last quarter. Finally, Hood River Capital Management LLC raised its stake in shares of Kornit Digital by 47.2% during the fourth quarter. Hood River Capital Management LLC now owns 1,099,725 shares of the industrial products company’s stock valued at $34,036,000 after purchasing an additional 352,648 shares during the period. 92.76% of the stock is owned by hedge funds and other institutional investors.

Kornit Digital Trading Down 5.3 %

Shares of KRNT stock opened at $27.60 on Friday. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -31.36 and a beta of 2.02. The firm has a 50-day moving average price of $30.50 and a 200 day moving average price of $26.26. Kornit Digital has a twelve month low of $13.59 and a twelve month high of $34.28.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. As a group, research analysts predict that Kornit Digital will post -0.22 earnings per share for the current year.

About Kornit Digital

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. Its solutions include digital printing systems, ink and other consumables, associated software, and value-added services.