Kornit Digital (NASDAQ:KRNT) Given Buy Rating at Needham & Company LLC

Kornit Digital (NASDAQ:KRNT)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They currently have a $30.00 price target on the industrial products company’s stock. Needham & Company LLC’s price target points to a potential upside of 30.66% from the company’s previous close.

Other analysts have also issued research reports about the stock. Cantor Fitzgerald upgraded shares of Kornit Digital to a “strong-buy” rating in a research report on Thursday, February 27th. Morgan Stanley reiterated an “overweight” rating on shares of Kornit Digital in a research report on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.20.

Kornit Digital Stock Up 0.2%

Shares of NASDAQ:KRNT opened at $22.96 on Thursday. The company’s 50 day moving average price is $19.67 and its two-hundred day moving average price is $25.29. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $34.29. The firm has a market cap of $1.09 billion, a PE ratio of -65.60 and a beta of 2.00.

Hedge Funds Weigh In On Kornit Digital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its stake in Kornit Digital by 277.4% in the 1st quarter. Jane Street Group LLC now owns 32,979 shares of the industrial products company’s stock valued at $629,000 after purchasing an additional 24,241 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Kornit Digital by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 117,800 shares of the industrial products company’s stock valued at $2,248,000 after acquiring an additional 2,105 shares during the last quarter. Polar Asset Management Partners Inc. raised its stake in shares of Kornit Digital by 21.7% during the first quarter. Polar Asset Management Partners Inc. now owns 584,460 shares of the industrial products company’s stock valued at $11,151,000 after acquiring an additional 104,017 shares during the last quarter. Granahan Investment Management LLC raised its stake in shares of Kornit Digital by 6.2% during the first quarter. Granahan Investment Management LLC now owns 1,693,833 shares of the industrial products company’s stock valued at $32,318,000 after acquiring an additional 98,284 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Kornit Digital during the first quarter valued at $1,601,000. 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.