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

Kornit Digital Ltd. (NASDAQ:KRNT) has received a consensus recommendation of “Hold” from the five brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $20.75.

A number of brokerages have weighed in on KRNT. Wall Street Zen raised Kornit Digital from a “sell” rating to a “hold” rating in a research report on Sunday, April 12th. Needham & Company LLC boosted their price target on Kornit Digital from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Kornit Digital in a research report on Wednesday, March 25th.

Kornit Digital Stock Performance

NASDAQ:KRNT opened at $16.75 on Friday. The stock’s 50-day simple moving average is $15.79 and its 200 day simple moving average is $14.97. The company has a market cap of $750.41 million, a P/E ratio of -42.96 and a beta of 1.75. Kornit Digital has a 52-week low of $11.93 and a 52-week high of $22.06.

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

Hedge Funds Weigh In On Kornit Digital

Institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in Kornit Digital during the second quarter worth approximately $31,000. State of Tennessee Department of Treasury acquired a new position in Kornit Digital during the second quarter worth approximately $35,000. CIBC Private Wealth Group LLC increased its position in Kornit Digital by 1,359.8% during the third quarter. CIBC Private Wealth Group LLC now owns 1,927 shares of the industrial products company’s stock worth $26,000 after buying an additional 1,795 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in Kornit Digital during the third quarter worth approximately $27,000. Finally, Headlands Technologies LLC increased its position in Kornit Digital by 84.5% during the second quarter. Headlands Technologies LLC now owns 9,807 shares of the industrial products company’s stock worth $195,000 after buying an additional 4,491 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

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.