Kornit Digital Ltd. (NASDAQ:KRNT)‘s stock had its “buy” rating reaffirmed by equities research analysts at Canaccord Genuity in a research note issued on Tuesday. They currently have a $24.00 price target on the industrial products company’s stock. Canaccord Genuity’s price target would indicate a potential upside of 28.69% from the company’s previous close.

KRNT has been the subject of several other research reports. Barclays PLC increased their price objective on Kornit Digital from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, May 10th. BidaskClub downgraded Kornit Digital from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Citigroup Inc. set a $22.00 price objective on Kornit Digital and gave the company a “buy” rating in a report on Tuesday, April 25th. Zacks Investment Research downgraded Kornit Digital from a “hold” rating to a “sell” rating in a report on Tuesday, May 16th. Finally, Craig Hallum initiated coverage on Kornit Digital in a report on Tuesday, July 11th. They issued a “buy” rating and a $26.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Kornit Digital has an average rating of “Buy” and an average price target of $21.86.

Kornit Digital (NASDAQ:KRNT) traded down 0.80% during mid-day trading on Tuesday, reaching $18.65. 1,059,086 shares of the company’s stock were exchanged. The company’s market cap is $609.07 million. Kornit Digital has a 52-week low of $8.90 and a 52-week high of $23.15. The stock has a 50-day moving average price of $20.25 and a 200 day moving average price of $18.60.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. The company had revenue of $28.59 million during the quarter, compared to the consensus estimate of $29.81 million. Kornit Digital had a positive return on equity of 5.95% and a negative net margin of 0.60%. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.02 EPS. Equities analysts predict that Kornit Digital will post $0.42 earnings per share for the current fiscal year.

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A number of large investors have recently made changes to their positions in KRNT. Falcon Point Capital LLC increased its stake in shares of Kornit Digital by 2.2% in the second quarter. Falcon Point Capital LLC now owns 100,873 shares of the industrial products company’s stock valued at $1,952,000 after buying an additional 2,152 shares in the last quarter. Cowen Prime Services LLC increased its stake in shares of Kornit Digital by 104.8% in the second quarter. Cowen Prime Services LLC now owns 6,058 shares of the industrial products company’s stock valued at $117,000 after buying an additional 3,100 shares in the last quarter. Sei Investments Co. increased its stake in shares of Kornit Digital by 37.1% in the second quarter. Sei Investments Co. now owns 12,487 shares of the industrial products company’s stock valued at $242,000 after buying an additional 3,376 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in shares of Kornit Digital during the second quarter valued at about $101,000. Finally, Eagle Global Advisors LLC increased its stake in shares of Kornit Digital by 23.3% in the second quarter. Eagle Global Advisors LLC now owns 42,266 shares of the industrial products company’s stock valued at $818,000 after buying an additional 8,000 shares in the last quarter. 63.29% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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