Kornit Digital (NASDAQ:KRNT) Receives “Overweight” Rating from Cantor Fitzgerald

Kornit Digital (NASDAQ:KRNT)‘s stock had its “overweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a report issued on Thursday,Benzinga reports. They presently have a $39.00 price target on the industrial products company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 34.60% from the stock’s previous close.

Several other brokerages have also recently issued reports on KRNT. Needham & Company LLC upped their target price on shares of Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley upped their price objective on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, Craig Hallum raised their price objective on Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Kornit Digital Stock Down 0.6 %

NASDAQ KRNT traded down $0.19 on Thursday, reaching $28.98. The company had a trading volume of 128,299 shares, compared to its average volume of 231,787. The firm’s 50 day moving average price is $30.67 and its 200 day moving average price is $26.06. Kornit Digital has a 12 month low of $13.59 and a 12 month high of $34.28. The stock has a market capitalization of $1.38 billion, a PE ratio of -32.93 and a beta of 2.02.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. On average, research analysts expect that Kornit Digital will post -0.22 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of KRNT. Trust Point Inc. grew its position in Kornit Digital by 4.6% in the 3rd quarter. Trust Point Inc. now owns 17,868 shares of the industrial products company’s stock valued at $462,000 after acquiring an additional 785 shares during the last quarter. Chicago Capital LLC grew its holdings in shares of Kornit Digital by 8.1% in the third quarter. Chicago Capital LLC now owns 3,089,263 shares of the industrial products company’s stock worth $79,811,000 after purchasing an additional 231,659 shares during the last quarter. Signaturefd LLC increased its stake in Kornit Digital by 69.7% in the 3rd quarter. Signaturefd LLC now owns 5,818 shares of the industrial products company’s stock worth $150,000 after buying an additional 2,390 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Kornit Digital by 238.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 90,282 shares of the industrial products company’s stock valued at $2,332,000 after buying an additional 63,629 shares in the last quarter. Finally, Tectonic Advisors LLC purchased a new stake in Kornit Digital in the 3rd quarter valued at about $705,000. Hedge funds and other institutional investors own 92.76% of the company’s stock.

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.