Kornit Digital Ltd. (KRNT) Lowered to Buy at BidaskClub
BidaskClub downgraded shares of Kornit Digital Ltd. (NASDAQ:KRNT) from a strong-buy rating to a buy rating in a research note published on Tuesday.
Several other equities analysts have also weighed in on KRNT. Zacks Investment Research upgraded shares of Kornit Digital from a sell rating to a hold rating in a research report on Wednesday, July 12th. Craig Hallum began coverage on shares of Kornit Digital in a research report on Tuesday, July 11th. They set a buy rating and a $26.00 price objective for the company. Barclays PLC raised their price objective on shares of Kornit Digital from $20.00 to $22.00 and gave the company an overweight rating in a research report on Wednesday, May 10th. Finally, Citigroup Inc. set a $22.00 target price on shares of Kornit Digital and gave the stock a buy rating in a report on Tuesday, April 25th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $21.50.
Kornit Digital (KRNT) traded down 2.81% during mid-day trading on Tuesday, reaching $20.75. 190,809 shares of the company were exchanged. Kornit Digital has a 12 month low of $8.90 and a 12 month high of $23.15. The stock’s market capitalization is $677.65 million. The company’s 50 day moving average price is $19.80 and its 200-day moving average price is $18.33.
Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Tuesday, May 9th. The industrial products company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.04. Kornit Digital had a negative net margin of 0.60% and a positive return on equity of 5.95%. The business had revenue of $27.10 million for the quarter, compared to the consensus estimate of $29.20 million. During the same quarter last year, the business posted $0.02 EPS. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. On average, equities analysts expect that Kornit Digital will post $0.42 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pier Capital LLC purchased a new position in shares of Kornit Digital during the first quarter valued at approximately $4,844,000. IronBridge Capital Management LP purchased a new position in shares of Kornit Digital during the first quarter valued at approximately $3,198,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Kornit Digital during the first quarter valued at approximately $1,627,000. Eagle Global Advisors LLC purchased a new position in shares of Kornit Digital during the first quarter valued at approximately $654,000. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Kornit Digital by 255.2% in the first quarter. Parametric Portfolio Associates LLC now owns 39,778 shares of the industrial products company’s stock valued at $760,000 after buying an additional 28,578 shares during the last quarter. Institutional investors own 59.18% 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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