Needham & Company LLC Cuts Kornit Digital (NASDAQ:KRNT) Price Target to $20.00

Kornit Digital (NASDAQ:KRNT) had its target price lowered by investment analysts at Needham & Company LLC from $25.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Needham & Company LLC’s target price points to a potential upside of 60.00% from the stock’s previous close.

A number of other brokerages have also issued reports on KRNT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kornit Digital in a research note on Wednesday, October 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 price target (down from $20.00) on shares of Kornit Digital in a research note on Thursday. Finally, Barclays set a $22.00 price target on Kornit Digital and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Kornit Digital presently has an average rating of “Moderate Buy” and an average target price of $25.80.

Kornit Digital Price Performance

Shares of Kornit Digital stock opened at $12.50 on Thursday. The stock has a market capitalization of $559.94 million, a P/E ratio of -50.00 and a beta of 1.94. The business has a 50 day simple moving average of $14.19 and a two-hundred day simple moving average of $17.66. Kornit Digital has a 12 month low of $11.93 and a 12 month high of $34.28.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $53.13 million for the quarter, compared to analyst estimates of $51.79 million. Kornit Digital had a negative return on equity of 0.74% and a negative net margin of 5.43%.The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 earnings per share. Kornit Digital has set its Q4 2025 guidance at EPS. As a group, research analysts anticipate that Kornit Digital will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Kornit Digital

Several large investors have recently modified their holdings of KRNT. Raymond James Financial Inc. acquired a new position in Kornit Digital during the 2nd quarter worth about $31,000. State of Tennessee Department of Treasury acquired a new position in Kornit Digital during the 2nd quarter worth about $35,000. Fortitude Family Office LLC acquired a new position in Kornit Digital during the 2nd quarter worth about $99,000. Headlands Technologies LLC acquired a new position in Kornit Digital during the 1st quarter worth about $101,000. Finally, Captrust Financial Advisors acquired a new position in Kornit Digital during the 2nd quarter worth about $214,000. Institutional investors and hedge funds 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.