Kornit Digital Ltd. (KRNT) Stock Rating Reaffirmed by Needham & Company LLC
Kornit Digital Ltd. (NASDAQ:KRNT)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued to investors on Tuesday. They currently have a $15.00 price target on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 31.58% from the stock’s previous close.
Several other brokerages have also commented on KRNT. TheStreet upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. Stifel Nicolaus dropped their price target on shares of Kornit Digital from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Finally, Zacks Investment Research upgraded shares of Kornit Digital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $15.40.
Kornit Digital (NASDAQ:KRNT) opened at 11.40 on Tuesday. Kornit Digital has a 12 month low of $8.10 and a 12 month high of $12.30. The company’s 50 day moving average price is $10.61 and its 200 day moving average price is $10.10. The firm has a market capitalization of $348.66 million, a P/E ratio of 175.38 and a beta of -0.23.
Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. Kornit Digital had a net margin of 2.03% and a return on equity of 5.14%. The company had revenue of $30.90 million for the quarter, compared to analyst estimates of $28.79 million. During the same quarter last year, the business earned $0.09 earnings per share. Kornit Digital’s revenue was up 40.5% compared to the same quarter last year. Analysts anticipate that Kornit Digital will post $0.28 EPS for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of KRNT. Swiss National Bank boosted its position in Kornit Digital by 72.3% in the second quarter. Swiss National Bank now owns 14,300 shares of the company’s stock valued at $140,000 after buying an additional 6,000 shares during the period. Grandeur Peak Global Advisors LLC boosted its stake in shares of Kornit Digital by 11.6% in the second quarter. Grandeur Peak Global Advisors LLC now owns 95,126 shares of the company’s stock worth $928,000 after buying an additional 9,850 shares during the last quarter. United Services Automobile Association boosted its stake in shares of Kornit Digital by 14.5% in the second quarter. United Services Automobile Association now owns 122,500 shares of the company’s stock worth $1,196,000 after buying an additional 15,500 shares during the last quarter. Bamco Inc. NY boosted its stake in shares of Kornit Digital by 94.7% in the third quarter. Bamco Inc. NY now owns 37,000 shares of the company’s stock worth $347,000 after buying an additional 18,000 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its stake in shares of Kornit Digital by 79.2% in the third quarter. Kornitzer Capital Management Inc. KS now owns 63,100 shares of the company’s stock worth $592,000 after buying an additional 27,888 shares during the last quarter. Institutional investors and hedge funds own 26.02% of the company’s stock.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.
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