Kornit Digital (NASDAQ:KRNT) Price Target Lowered to $28.00 at Needham & Company LLC

Kornit Digital (NASDAQ:KRNT) had its price target dropped by equities researchers at Needham & Company LLC from $34.00 to $28.00 in a research note issued on Tuesday,Briefing.com Automated Import reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 75.22% from the company’s current price.

Other research analysts also recently issued research reports about the company. Morgan Stanley lifted their price objective on Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Cantor Fitzgerald raised Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.80.

Kornit Digital Stock Up 1.0 %

KRNT opened at $15.98 on Tuesday. The business’s fifty day simple moving average is $24.03 and its 200 day simple moving average is $27.10. Kornit Digital has a 52 week low of $13.59 and a 52 week high of $34.29. The stock has a market cap of $759.88 million, a PE ratio of -45.66 and a beta of 2.08.

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

Institutional Investors Weigh In On Kornit Digital

Institutional investors and hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Kornit Digital by 88.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,199 shares of the industrial products company’s stock valued at $2,692,000 after buying an additional 48,993 shares during the period. XTX Topco Ltd boosted its stake in shares of Kornit Digital by 50.5% during the 3rd quarter. XTX Topco Ltd now owns 31,532 shares of the industrial products company’s stock valued at $815,000 after purchasing an additional 10,579 shares in the last quarter. Barclays PLC raised its stake in Kornit Digital by 130.1% in the third quarter. Barclays PLC now owns 20,420 shares of the industrial products company’s stock worth $527,000 after buying an additional 11,544 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in Kornit Digital by 2.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,113,832 shares of the industrial products company’s stock worth $54,611,000 after buying an additional 53,257 shares during the period. Finally, Geode Capital Management LLC boosted its position in Kornit Digital by 15.3% during the 3rd quarter. Geode Capital Management LLC now owns 83,229 shares of the industrial products company’s stock valued at $2,150,000 after acquiring an additional 11,049 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. 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.