Kornit Digital Ltd. (NASDAQ:KRNT) Given Average Recommendation of “Buy” by Brokerages

Kornit Digital Ltd. (NASDAQ:KRNT) has been assigned a consensus recommendation of “Buy” from the nine analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $168.00.

A number of analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $202.00 target price on shares of Kornit Digital in a report on Thursday, December 23rd. Stifel Nicolaus upped their price target on Kornit Digital from $150.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, November 11th. TheStreet cut Kornit Digital from a “b-” rating to a “c+” rating in a report on Monday, December 6th. Zacks Investment Research upgraded Kornit Digital from a “sell” rating to a “hold” rating in a report on Wednesday, October 13th. Finally, Craig Hallum upgraded Kornit Digital to a “buy” rating and upped their price target for the stock from $140.00 to $180.00 in a report on Thursday, November 11th.

Shares of NASDAQ:KRNT opened at $110.41 on Friday. Kornit Digital has a 1 year low of $84.21 and a 1 year high of $181.38. The stock has a market capitalization of $5.14 billion, a P/E ratio of 256.77 and a beta of 1.73. The stock has a 50-day simple moving average of $148.39 and a 200-day simple moving average of $141.60.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Wednesday, November 10th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.24. Kornit Digital had a return on equity of 5.26% and a net margin of 6.67%. The business had revenue of $86.67 million during the quarter, compared to analysts’ expectations of $90.16 million. During the same quarter in the previous year, the business earned $0.13 EPS. Research analysts expect that Kornit Digital will post 0.56 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Bartlett & Co. LLC purchased a new position in shares of Kornit Digital during the 3rd quarter valued at approximately $29,000. Spire Wealth Management raised its position in shares of Kornit Digital by 891.2% during the 4th quarter. Spire Wealth Management now owns 565 shares of the industrial products company’s stock valued at $86,000 after acquiring an additional 508 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Kornit Digital by 160.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 811 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 500 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Kornit Digital during the 3rd quarter valued at approximately $214,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Kornit Digital during the 3rd quarter valued at approximately $227,000. Institutional investors own 91.40% of the company’s stock.

About Kornit Digital

Kornit Digital Ltd. engages in the development, manufacture, and marketing of industrial and commercial printing solutions for the garment, apparel and textile industries. It offers printing solutions for apparel, polyester, sportswear, beachwear, accessories, paradigm shirt, textiles, curtains, cushions and couches.

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Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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