Kornit Digital (NASDAQ:KRNT) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Kornit Digital (NASDAQ:KRNT) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $39.00 price target on the industrial products company’s stock.

Other analysts have also issued research reports about the company. Morgan Stanley upped their price objective on Kornit Digital from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Craig Hallum raised their price target on Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barclays lifted their price objective on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. StockNews.com raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Needham & Company LLC lifted their target price on shares of Kornit Digital from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Kornit Digital Trading Up 1.4 %

Shares of KRNT opened at $31.80 on Tuesday. The company’s fifty day simple moving average is $26.96 and its 200 day simple moving average is $20.21. Kornit Digital has a 1-year low of $13.59 and a 1-year high of $33.00. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -36.14 and a beta of 1.93.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.04. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The company had revenue of $50.73 million for the quarter, compared to analyst estimates of $50.44 million. During the same period in the previous year, the business earned ($0.17) EPS. Kornit Digital’s revenue for the quarter was down 14.3% compared to the same quarter last year. As a group, research analysts forecast that Kornit Digital will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Kornit Digital

A number of hedge funds have recently added to or reduced their stakes in KRNT. Tidal Investments LLC grew its holdings in shares of Kornit Digital by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 37,365 shares of the industrial products company’s stock worth $965,000 after purchasing an additional 1,651 shares in the last quarter. Barclays PLC increased its holdings in Kornit Digital by 130.1% in the 3rd quarter. Barclays PLC now owns 20,420 shares of the industrial products company’s stock valued at $527,000 after buying an additional 11,544 shares during the period. Meros Investment Management LP raised its position in shares of Kornit Digital by 19.2% in the 3rd quarter. Meros Investment Management LP now owns 276,040 shares of the industrial products company’s stock valued at $7,131,000 after buying an additional 44,456 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Kornit Digital by 15.3% during the 3rd quarter. Geode Capital Management LLC now owns 83,229 shares of the industrial products company’s stock worth $2,150,000 after acquiring an additional 11,049 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in shares of Kornit Digital by 2.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,113,832 shares of the industrial products company’s stock worth $54,611,000 after acquiring an additional 53,257 shares during the period. Institutional investors own 92.76% of the company’s stock.

About Kornit Digital

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.