Needham & Company LLC Increases Kornit Digital (NASDAQ:KRNT) Price Target to $30.00

Kornit Digital (NASDAQ:KRNT) had its price target hoisted by equities research analysts at Needham & Company LLC from $28.00 to $30.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 35.75% from the company’s previous close.

Separately, Cantor Fitzgerald raised Kornit Digital to a “strong-buy” rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.20.

Kornit Digital Trading Up 14.8%

NASDAQ:KRNT opened at $22.10 on Thursday. Kornit Digital has a 1 year low of $13.59 and a 1 year high of $34.29. The stock has a 50-day moving average price of $19.30 and a two-hundred day moving average price of $25.86. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -63.14 and a beta of 2.00.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings data on Wednesday, May 14th. The industrial products company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. Sell-side analysts forecast that Kornit Digital will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Kornit Digital

Several institutional investors and hedge funds have recently made changes to their positions in KRNT. Fifth Third Bancorp boosted its stake in 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 purchasing an additional 393 shares during the period. US Bancorp DE lifted its holdings in shares of Kornit Digital by 7.4% during the fourth quarter. US Bancorp DE now owns 8,294 shares of the industrial products company’s stock worth $257,000 after buying an additional 572 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Kornit Digital by 1.2% in the fourth quarter. California State Teachers Retirement System now owns 46,855 shares of the industrial products company’s stock valued at $1,450,000 after acquiring an additional 575 shares during the period. American Century Companies Inc. grew its stake in shares of Kornit Digital by 8.5% in the fourth quarter. American Century Companies Inc. now owns 11,120 shares of the industrial products company’s stock valued at $344,000 after acquiring an additional 874 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Kornit Digital by 35.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 988 shares during the period. Institutional investors and hedge funds 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.