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

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have earned an average recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $21.50.

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

Kornit Digital Price Performance

Shares of Kornit Digital stock opened at $16.55 on Wednesday. The firm has a market capitalization of $711.15 million, a P/E ratio of -34.48 and a beta of 1.74. The company has a 50 day moving average price of $16.16 and a 200 day moving average price of $15.72. Kornit Digital has a 52 week low of $11.93 and a 52 week high of $19.78.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership boosted its position in Kornit Digital by 97.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 470,962 shares of the industrial products company’s stock worth $6,904,000 after acquiring an additional 232,808 shares during the last quarter. Wasatch Advisors LP raised its holdings in Kornit Digital by 145.9% in the 2nd quarter. Wasatch Advisors LP now owns 433,968 shares of the industrial products company’s stock valued at $7,052,000 after acquiring an additional 257,478 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Kornit Digital by 13.7% in the 1st quarter. Janus Henderson Group PLC now owns 793,194 shares of the industrial products company’s stock valued at $11,628,000 after acquiring an additional 95,693 shares during the last quarter. American Capital Management Inc. purchased a new position in Kornit Digital in the 2nd quarter worth approximately $4,598,000. Finally, Granahan Investment Management LLC lifted its stake in Kornit Digital by 31.4% in the 4th quarter. Granahan Investment Management LLC now owns 2,569,663 shares of the industrial products company’s stock worth $36,952,000 after purchasing an additional 614,513 shares in the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Kornit Digital Company Profile

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.