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

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have been assigned an average recommendation of “Buy” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $34.00.

Several research analysts have recently commented on KRNT shares. Needham & Company LLC lifted their price objective on Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Cantor Fitzgerald raised Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, Morgan Stanley boosted their price objective on shares of Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, December 16th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KRNT. Fifth Third Bancorp grew its stake in Kornit Digital by 23.4% in the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 393 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Kornit Digital by 654.5% during the 4th quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company’s stock valued at $64,000 after buying an additional 1,800 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Kornit Digital by 35.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock worth $117,000 after buying an additional 988 shares during the period. Deutsche Bank AG lifted its position in Kornit Digital by 31.5% during the 4th quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company’s stock valued at $148,000 after acquiring an additional 1,143 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in Kornit Digital during the 4th quarter valued at about $159,000. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Kornit Digital Price Performance

Shares of NASDAQ:KRNT opened at $19.50 on Monday. The company’s fifty day moving average price is $25.51 and its 200-day moving average price is $27.34. The firm has a market capitalization of $927.26 million, a price-to-earnings ratio of -55.71 and a beta of 2.12. Kornit Digital has a one year low of $13.59 and a one year high of $34.29.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. As a group, equities research analysts expect that Kornit Digital will post -0.2 EPS for the current year.

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.