Kornit Digital Ltd. (NASDAQ:KRNT) Receives Average Recommendation of “Buy” from Brokerages

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have been assigned a consensus rating of “Buy” from the five research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $34.00.

KRNT has been the subject of several research reports. Cantor Fitzgerald upgraded Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Morgan Stanley increased their target price on shares of Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Needham & Company LLC boosted their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th.

Kornit Digital Stock Performance

NASDAQ KRNT opened at $19.50 on Monday. The company has a market capitalization of $927.26 million, a PE ratio of -55.71 and a beta of 2.12. Kornit Digital has a 52-week low of $13.59 and a 52-week high of $34.29. The company has a 50-day simple moving average of $25.51 and a 200 day simple moving average of $27.34.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results 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 return on equity of 1.51% and a negative net margin of 8.24%. As a group, analysts forecast that Kornit Digital will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KRNT. Disciplined Growth Investors Inc. MN boosted its position in shares of Kornit Digital by 2.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,113,832 shares of the industrial products company’s stock valued at $54,611,000 after acquiring an additional 53,257 shares during the period. Riverbridge Partners LLC lifted its stake in Kornit Digital by 21.1% in the 4th quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company’s stock worth $59,643,000 after purchasing an additional 335,713 shares in the last quarter. Stephens Investment Management Group LLC boosted its holdings in Kornit Digital by 4.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company’s stock valued at $41,545,000 after purchasing an additional 57,068 shares during the period. Loomis Sayles & Co. L P boosted its holdings in Kornit Digital by 259.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company’s stock valued at $38,300,000 after purchasing an additional 893,463 shares during the period. Finally, Hood River Capital Management LLC grew its position in shares of Kornit Digital by 47.2% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.

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.