Shares of Kornit Digital Ltd (NASDAQ:KRNT) have been given a consensus rating of “Buy” by the ten analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $24.67.
A number of equities research analysts have recently commented on KRNT shares. Zacks Investment Research downgraded Kornit Digital from a “buy” rating to a “hold” rating in a research report on Thursday, January 17th. Craig Hallum set a $25.00 price objective on Kornit Digital and gave the company a “buy” rating in a research report on Thursday, February 14th. Stifel Nicolaus lifted their price objective on Kornit Digital from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, BidaskClub raised Kornit Digital from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th.
Several large investors have recently made changes to their positions in KRNT. Summit Creek Advisors LLC boosted its holdings in Kornit Digital by 15.1% in the first quarter. Summit Creek Advisors LLC now owns 517,120 shares of the industrial products company’s stock valued at $12,307,000 after acquiring an additional 67,840 shares during the last quarter. Pembroke Management LTD purchased a new stake in shares of Kornit Digital during the first quarter worth about $14,065,000. Legal & General Group Plc increased its position in shares of Kornit Digital by 70.7% during the fourth quarter. Legal & General Group Plc now owns 2,296 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 951 shares during the last quarter. Summit Partners Public Asset Management LLC purchased a new stake in shares of Kornit Digital during the fourth quarter worth about $5,290,000. Finally, D. E. Shaw & Co. Inc. increased its position in shares of Kornit Digital by 176.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 60,463 shares of the industrial products company’s stock worth $1,132,000 after acquiring an additional 38,593 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.
Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Tuesday, February 12th. The industrial products company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). The company had revenue of $37.80 million for the quarter, compared to analysts’ expectations of $38.11 million. Kornit Digital had a return on equity of 5.09% and a net margin of 8.73%. The business’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. Research analysts anticipate that Kornit Digital will post 0.44 earnings per share for the current fiscal year.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.
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