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

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have earned an average recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $20.75.

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Kornit Digital in a research report on Wednesday, March 25th. Morgan Stanley reiterated a “positive” rating and set a $17.00 price objective on shares of Kornit Digital in a research report on Wednesday, February 11th. Needham & Company LLC raised their price objective on Kornit Digital from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, Wall Street Zen upgraded Kornit Digital from a “sell” rating to a “hold” rating in a research report on Sunday, April 12th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. CIBC Private Wealth Group LLC lifted its holdings in shares of 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 during the last quarter. Johnson Financial Group Inc. bought a new position in shares of Kornit Digital during the 3rd quarter valued at $27,000. Raymond James Financial Inc. purchased a new position in Kornit Digital in the 2nd quarter worth $31,000. State of Tennessee Department of Treasury purchased a new position in Kornit Digital in the 2nd quarter worth $35,000. Finally, Quadrature Capital Ltd bought a new stake in Kornit Digital in the fourth quarter worth $144,000. 92.76% of the stock is owned by hedge funds and other institutional investors.

Kornit Digital Price Performance

Shares of NASDAQ:KRNT opened at $14.59 on Monday. The company’s fifty day moving average price is $15.27 and its 200-day moving average price is $14.57. The firm has a market capitalization of $653.49 million, a price-to-earnings ratio of -37.41 and a beta of 1.76. Kornit Digital has a one year low of $11.93 and a one year high of $23.32.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Wednesday, May 13th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). Kornit Digital had a negative net margin of 7.93% and a negative return on equity of 1.15%. The company had revenue of $48.54 million during the quarter, compared to the consensus estimate of $46.67 million. During the same period in the previous year, the firm posted $0.01 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts expect that Kornit Digital will post -0.17 EPS for the current year.

About Kornit Digital

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.