Kornit Digital Ltd. (KRNT) Given Average Recommendation of “Buy” by Analysts
Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have been given an average rating of “Buy” by the nine analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $22.33.
A number of brokerages have recently commented on KRNT. BidaskClub lowered Kornit Digital from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Canaccord Genuity reissued a “buy” rating and set a $24.00 price target on shares of Kornit Digital in a research note on Tuesday, August 8th. Zacks Investment Research raised Kornit Digital from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Craig Hallum began coverage on Kornit Digital in a research note on Tuesday, July 11th. They set a “buy” rating and a $26.00 price target on the stock.
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Hedge funds have recently modified their holdings of the business. United Services Automobile Association increased its holdings in Kornit Digital by 256.1% in the first quarter. United Services Automobile Association now owns 443,390 shares of the industrial products company’s stock worth $8,469,000 after purchasing an additional 318,890 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Kornit Digital in the first quarter worth approximately $3,557,000. Stephens Investment Management Group LLC increased its holdings in Kornit Digital by 64.2% in the second quarter. Stephens Investment Management Group LLC now owns 1,269,012 shares of the industrial products company’s stock worth $24,555,000 after purchasing an additional 496,117 shares in the last quarter. Lebenthal Lisanti Capital Growth LLC increased its holdings in Kornit Digital by 90.0% in the second quarter. Lebenthal Lisanti Capital Growth LLC now owns 46,857 shares of the industrial products company’s stock worth $907,000 after purchasing an additional 22,197 shares in the last quarter. Finally, Essex Investment Management Co. LLC increased its holdings in Kornit Digital by 100.2% in the second quarter. Essex Investment Management Co. LLC now owns 303,401 shares of the industrial products company’s stock worth $5,871,000 after purchasing an additional 151,875 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.
Shares of Kornit Digital (NASDAQ:KRNT) traded down 3.06% during mid-day trading on Friday, reaching $17.45. The company’s stock had a trading volume of 236,343 shares. Kornit Digital has a 12 month low of $8.90 and a 12 month high of $19.30. The firm’s market cap is $588.68 million. The company has a 50-day moving average of $17.77 and a 200-day moving average of $17.77.
Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. Kornit Digital had a positive return on equity of 7.05% and a negative net margin of 0.29%. The firm had revenue of $28.59 million for the quarter, compared to analyst estimates of $29.81 million. During the same period last year, the firm posted $0.02 earnings per share. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. On average, analysts predict that Kornit Digital will post $0.42 earnings per share for the current year.
About Kornit Digital
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.
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