Kornit Digital Ltd. (KRNT) Receives Consensus Rating of “Buy” from Analysts
Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have been given an average rating of “Buy” by the six analysts that are covering the company. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $17.25.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Kornit Digital from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 4th. Stifel Nicolaus reduced their target price on shares of Kornit Digital from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Canaccord Genuity reiterated a “buy” rating and set a $20.00 target price on shares of Kornit Digital in a research report on Friday, July 1st. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Kornit Digital in a research report on Tuesday, July 5th. Finally, TheStreet upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Monday, August 8th.
Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Kornit Digital by 13.5% in the first quarter. Geode Capital Management LLC now owns 13,919 shares of the company’s stock worth $138,000 after buying an additional 1,651 shares during the period. Swiss National Bank increased its stake in shares of 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 last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Kornit Digital by 69.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 18,826 shares of the company’s stock valued at $187,000 after buying an additional 7,692 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Kornit Digital during the second quarter valued at approximately $344,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Kornit Digital during the second quarter valued at approximately $801,000. 27.45% of the stock is owned by institutional investors and hedge funds.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/17/kornit-digital-ltd-krnt-receives-consensus-rating-of-buy-from-analysts.html
Kornit Digital (NASDAQ:KRNT) traded down 3.37% during trading on Monday, reaching $10.05. 14,153 shares of the company were exchanged. Kornit Digital has a 52-week low of $8.10 and a 52-week high of $13.50. The firm has a 50-day moving average of $9.92 and a 200-day moving average of $9.95. The firm has a market cap of $306.26 million, a price-to-earnings ratio of 78.52 and a beta of -0.10.
Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Tuesday, August 2nd. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.02. Kornit Digital had a return on equity of 4.54% and a net margin of 4.12%. The company had revenue of $24 million for the quarter, compared to analyst estimates of $24.53 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. Kornit Digital’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts forecast that Kornit Digital will post $0.27 EPS for the current year.
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.
Receive News & Ratings for Kornit Digital Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kornit Digital Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.