Kornit Digital Ltd (NASDAQ:KRNT) has earned an average recommendation of “Buy” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $31.33.
A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus set a $35.00 price target on Kornit Digital and gave the company a “buy” rating in a report on Wednesday, August 7th. BidaskClub raised Kornit Digital from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 27th. Zacks Investment Research raised Kornit Digital from a “strong sell” rating to a “hold” rating in a report on Saturday, August 24th. TheStreet raised Kornit Digital from a “c+” rating to a “b” rating in a report on Wednesday, August 7th. Finally, ValuEngine cut Kornit Digital from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new stake in shares of Kornit Digital during the third quarter valued at approximately $50,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Kornit Digital by 29.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,272 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 520 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Kornit Digital by 42.7% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,351 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 703 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in shares of Kornit Digital during the second quarter valued at approximately $103,000. Finally, Public Employees Retirement Association of Colorado acquired a new position in shares of Kornit Digital during the third quarter valued at approximately $114,000. 96.27% of the stock is currently owned by institutional investors.
Shares of Kornit Digital stock traded down $0.23 during trading hours on Thursday, hitting $34.35. 205,300 shares of the company’s stock traded hands, compared to its average volume of 307,668. The company has a quick ratio of 6.35, a current ratio of 7.23 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $32.49 and a 200-day simple moving average of $29.69. Kornit Digital has a twelve month low of $16.10 and a twelve month high of $35.73. The company has a market cap of $1.39 billion, a PE ratio of 143.13 and a beta of 1.11.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.
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