Brokerages Set Kornit Digital Ltd. (NASDAQ:KRNT) PT at $21.50

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have received a consensus rating of “Hold” from the six brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $21.50.

A number of research analysts have recently commented on KRNT shares. Zacks Research raised shares of Kornit Digital from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. Morgan Stanley boosted their price target on Kornit Digital from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Weiss Ratings upgraded Kornit Digital from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. Finally, Needham & Company LLC upped their price target on Kornit Digital from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, August 12th.

Kornit Digital Trading Down 1.3%

Shares of Kornit Digital stock opened at $16.34 on Wednesday. Kornit Digital has a 1 year low of $11.93 and a 1 year high of $19.78. The company’s fifty day simple moving average is $16.17 and its 200-day simple moving average is $15.73. The company has a market cap of $702.13 million, a price-to-earnings ratio of -34.04 and a beta of 1.74.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, August 12th. The industrial products company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05. The firm had revenue of $55.32 million during the quarter, compared to analysts’ expectations of $52.80 million. Kornit Digital had a negative net margin of 9.42% and a negative return on equity of 1.00%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 EPS. As a group, research analysts forecast that Kornit Digital will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of Kornit Digital

Institutional investors and hedge funds have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in 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 worth $2,248,000 after buying an additional 2,105 shares in the last quarter. Jane Street Group LLC raised its stake in shares of 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 buying an additional 24,241 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Kornit Digital by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 51,246 shares of the industrial products company’s stock worth $1,020,000 after acquiring an additional 4,534 shares during the period. Nebula Research & Development LLC lifted its holdings in shares of Kornit Digital by 68.9% during the 2nd quarter. Nebula Research & Development LLC now owns 25,390 shares of the industrial products company’s stock worth $506,000 after acquiring an additional 10,357 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Kornit Digital by 0.8% during the 2nd quarter. Sei Investments Co. now owns 271,305 shares of the industrial products company’s stock worth $5,402,000 after acquiring an additional 2,195 shares during the period. 92.76% of the stock is currently owned by institutional investors.

About Kornit Digital

Kornit Digital Ltd. (NASDAQ: KRNT) is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha’Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company’s flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.