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

Kornit Digital Ltd. (NASDAQ:KRNT) has been given an average recommendation of “Buy” by the five ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $34.00.

A number of equities research analysts have weighed in on the company. Morgan Stanley raised their target price on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Needham & Company LLC raised their target price on Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Cantor Fitzgerald raised Kornit Digital to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Craig Hallum increased their price target on Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Kornit Digital Stock Performance

Shares of KRNT stock opened at $22.93 on Thursday. The stock’s fifty day moving average price is $28.64 and its two-hundred day moving average price is $27.05. The company has a market cap of $1.09 billion, a PE ratio of -65.51 and a beta of 2.02. Kornit Digital has a fifty-two week low of $13.59 and a fifty-two week high of $34.29.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. On average, equities analysts predict that Kornit Digital will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Fifth Third Bancorp lifted its stake in shares of Kornit Digital by 23.4% in the 4th quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 393 shares during the last quarter. Russell Investments Group Ltd. raised its position in Kornit Digital by 654.5% during the 4th quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 1,800 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Kornit Digital by 35.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 988 shares during the last quarter. Deutsche Bank AG raised its position in Kornit Digital by 31.5% during the 4th quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 1,143 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Kornit Digital during the 4th quarter worth $159,000. 92.76% of the stock is currently owned by institutional investors.

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.