Kornit Digital Ltd. (NASDAQ:KRNT) Given Consensus Recommendation of “Buy” by Analysts

Kornit Digital Ltd. (NASDAQ:KRNTGet Rating) has earned an average recommendation of “Buy” from the eight analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $173.80.

Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of Kornit Digital from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 20th. Needham & Company LLC lowered their price target on shares of Kornit Digital from $202.00 to $155.00 and set a “buy” rating for the company in a report on Thursday, April 21st. Finally, StockNews.com initiated coverage on shares of Kornit Digital in a report on Thursday, March 31st. They set a “sell” rating for the company.

Shares of NASDAQ:KRNT traded down $1.89 during trading on Monday, reaching $66.50. 385,804 shares of the company were exchanged, compared to its average volume of 387,623. Kornit Digital has a 12-month low of $64.87 and a 12-month high of $181.38. The business’s fifty day simple moving average is $79.41 and its 200-day simple moving average is $116.70. The firm has a market capitalization of $3.30 billion, a PE ratio of 201.52 and a beta of 1.87.

Kornit Digital (NASDAQ:KRNTGet Rating) last posted its quarterly earnings results on Tuesday, February 15th. The industrial products company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.12). Kornit Digital had a return on equity of 3.51% and a net margin of 4.82%. The firm had revenue of $95.40 million for the quarter, compared to analyst estimates of $89.99 million. During the same quarter last year, the firm earned $0.19 EPS. The company’s revenue was up 28.7% on a year-over-year basis. On average, sell-side analysts expect that Kornit Digital will post 0.77 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. boosted its holdings in shares of Kornit Digital by 14.2% in the 3rd quarter. Macquarie Group Ltd. now owns 1,139,513 shares of the industrial products company’s stock valued at $164,933,000 after buying an additional 142,048 shares in the last quarter. Barclays PLC boosted its stake in Kornit Digital by 186.5% during the 3rd quarter. Barclays PLC now owns 17,780 shares of the industrial products company’s stock worth $2,573,000 after purchasing an additional 11,575 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in Kornit Digital during the 4th quarter worth $1,676,000. Foundry Partners LLC acquired a new stake in Kornit Digital during the 4th quarter worth $413,000. Finally, Paradiem LLC boosted its stake in Kornit Digital by 113.1% during the 4th quarter. Paradiem LLC now owns 3,096 shares of the industrial products company’s stock worth $325,000 after purchasing an additional 1,643 shares during the period. Institutional investors and hedge funds own 92.04% of the company’s stock.

Kornit Digital Company Profile (Get Rating)

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. The company's solutions include digital printing systems, ink and other consumables, associated software, and value-added services.

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Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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