Kornit Digital Ltd. (NASDAQ:KRNT) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have been given a consensus rating of “Buy” by the nine analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $115.50.

KRNT has been the subject of a number of recent research reports. Citigroup raised their price objective on shares of Kornit Digital from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $110.00 target price on shares of Kornit Digital in a research note on Wednesday, February 17th. Barclays lifted their target price on shares of Kornit Digital from $80.00 to $124.00 and gave the stock an “overweight” rating in a research note on Thursday, February 25th. Craig Hallum lowered their target price on shares of Kornit Digital from $125.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, May 12th. Finally, Needham & Company LLC lifted their target price on shares of Kornit Digital from $76.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 17th.

Shares of KRNT traded down $1.38 during mid-day trading on Monday, reaching $89.30. 196,793 shares of the company’s stock were exchanged, compared to its average volume of 265,388. The company has a 50-day simple moving average of $98.55 and a two-hundred day simple moving average of $93.30. Kornit Digital has a 52-week low of $31.10 and a 52-week high of $125.00. The company has a market cap of $4.11 billion, a price-to-earnings ratio of -558.13 and a beta of 1.70.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings data on Tuesday, May 11th. The industrial products company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.03. Kornit Digital had a negative net margin of 3.49% and a negative return on equity of 1.05%. The business had revenue of $69.20 million during the quarter, compared to analysts’ expectations of $62.67 million. During the same period last year, the company posted ($0.20) EPS. The company’s revenue was up 158.2% on a year-over-year basis. On average, equities research analysts predict that Kornit Digital will post -0.05 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. California Public Employees Retirement System lifted its holdings in shares of Kornit Digital by 12.3% during the 4th quarter. California Public Employees Retirement System now owns 105,967 shares of the industrial products company’s stock valued at $9,445,000 after acquiring an additional 11,605 shares in the last quarter. Navellier & Associates Inc acquired a new position in shares of Kornit Digital during the 4th quarter valued at $217,000. Venturi Wealth Management LLC acquired a new position in shares of Kornit Digital during the 4th quarter valued at $208,000. FDx Advisors Inc. lifted its holdings in shares of Kornit Digital by 24.6% during the 4th quarter. FDx Advisors Inc. now owns 9,236 shares of the industrial products company’s stock valued at $823,000 after acquiring an additional 1,823 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Kornit Digital by 2.7% during the 4th quarter. New York State Common Retirement Fund now owns 82,651 shares of the industrial products company’s stock valued at $7,367,000 after acquiring an additional 2,143 shares in the last quarter.

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 worldwide. The company's solutions include digital printing systems, ink and other consumables, associated software, and value-added services.

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Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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