Kornit Digital Ltd. (NASDAQ:KRNT) Given Average Recommendation of “Hold” by Analysts

Kornit Digital Ltd. (NASDAQ:KRNT) has earned an average rating of “Hold” from the five analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $20.25.

KRNT has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Kornit Digital in a research report on Wednesday, March 25th. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Kornit Digital in a research report on Wednesday, February 11th. Morgan Stanley reiterated a “positive” rating and issued a $17.00 price target on shares of Kornit Digital in a report on Wednesday, February 11th. Finally, Wall Street Zen lowered Kornit Digital from a “hold” rating to a “sell” rating in a research note on Saturday.

Kornit Digital Price Performance

Shares of KRNT opened at $14.77 on Friday. The stock has a market capitalization of $661.62 million, a price-to-earnings ratio of -47.64 and a beta of 1.79. Kornit Digital has a 1 year low of $11.93 and a 1 year high of $23.48. The business’s 50 day simple moving average is $14.71 and its 200-day simple moving average is $14.18.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Wednesday, February 11th. The industrial products company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Kornit Digital had a negative net margin of 6.49% and a negative return on equity of 1.07%. The firm had revenue of $58.86 million for the quarter, compared to the consensus estimate of $58.16 million. During the same period in the previous year, the firm posted $0.18 EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis. On average, sell-side analysts expect that Kornit Digital will post -0.2 earnings per share for the current year.

Institutional Trading of Kornit Digital

A number of large investors have recently made changes to their positions in KRNT. Van ECK Associates Corp grew its holdings in shares of Kornit Digital by 6.9% in the fourth quarter. Van ECK Associates Corp now owns 12,742 shares of the industrial products company’s stock worth $183,000 after purchasing an additional 820 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Kornit Digital by 11.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 12,200 shares of the industrial products company’s stock valued at $175,000 after buying an additional 1,300 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Kornit Digital in the 2nd quarter valued at about $31,000. State of Tennessee Department of Treasury purchased a new stake in Kornit Digital in the 2nd quarter valued at about $35,000. Finally, CIBC Private Wealth Group LLC grew its stake in Kornit Digital by 1,359.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,927 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 1,795 shares in the last quarter. 92.76% of the stock is owned by hedge funds and other institutional investors.

Kornit Digital Company Profile

Kornit Digital Ltd. (NASDAQ: KRNT) is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha’Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company’s flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.