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

Kornit Digital Ltd. (NASDAQ:KRNT) has earned an average rating of “Hold” from the five research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $21.00.

KRNT has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on shares of Kornit Digital from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 23rd. Needham & Company LLC boosted their target price on shares of Kornit Digital from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Kornit Digital in a research note on Wednesday, March 25th. Finally, Wall Street Zen raised Kornit Digital from a “sell” rating to a “hold” rating in a report on Sunday, April 12th.

Kornit Digital Price Performance

Shares of KRNT opened at $15.65 on Tuesday. Kornit Digital has a 12 month low of $11.93 and a 12 month high of $22.06. The stock has a fifty day moving average price of $15.81 and a 200 day moving average price of $15.20. The company has a market cap of $700.96 million, a P/E ratio of -40.13 and a beta of 1.73.

Kornit Digital (NASDAQ:KRNT) last posted 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). Kornit Digital had a negative return on equity of 1.15% and a negative net margin of 7.93%.The company had revenue of $48.54 million for the quarter, compared to analysts’ expectations of $46.67 million. During the same period last year, the business posted $0.01 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Kornit Digital will post -0.28 earnings per share for the current year.

Institutional Trading of Kornit Digital

Several large investors have recently added to or reduced their stakes in KRNT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Kornit Digital by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 117,800 shares of the industrial products company’s stock worth $2,248,000 after acquiring an additional 2,105 shares during the period. Jane Street Group LLC increased its holdings in shares of Kornit Digital by 277.4% during the first quarter. Jane Street Group LLC now owns 32,979 shares of the industrial products company’s stock valued at $629,000 after purchasing an additional 24,241 shares during the period. Legal & General Group Plc increased its holdings in shares of Kornit Digital by 9.7% during the second quarter. Legal & General Group Plc now owns 51,246 shares of the industrial products company’s stock valued at $1,020,000 after purchasing an additional 4,534 shares during the period. Nebula Research & Development LLC increased its holdings in shares of Kornit Digital by 68.9% during the second quarter. Nebula Research & Development LLC now owns 25,390 shares of the industrial products company’s stock valued at $506,000 after purchasing an additional 10,357 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Kornit Digital by 0.8% during the second quarter. Sei Investments Co. now owns 271,305 shares of the industrial products company’s stock valued at $5,402,000 after purchasing an additional 2,195 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors and hedge funds.

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.