Kornit Digital Ltd (KRNT) Receives $24.67 Consensus Price Target from Analysts

Shares of Kornit Digital Ltd (NASDAQ:KRNT) have received a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $24.67.

Several equities research analysts recently weighed in on KRNT shares. Craig Hallum set a $25.00 target price on shares of Kornit Digital and gave the stock a “buy” rating in a research note on Thursday, February 14th. BidaskClub upgraded shares of Kornit Digital from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. Stifel Nicolaus boosted their price target on shares of Kornit Digital from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Needham & Company LLC boosted their price target on shares of Kornit Digital from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Finally, Zacks Investment Research upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Friday, March 29th.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its holdings in shares of Kornit Digital by 3.9% in the 4th quarter. Bank of America Corp DE now owns 408,318 shares of the industrial products company’s stock valued at $7,644,000 after buying an additional 15,377 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Kornit Digital in the 3rd quarter valued at $339,000. ETF Managers Group LLC raised its position in Kornit Digital by 4.8% in the 4th quarter. ETF Managers Group LLC now owns 30,835 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 1,411 shares during the last quarter. BlackRock Inc. raised its position in Kornit Digital by 6.3% in the 3rd quarter. BlackRock Inc. now owns 410,780 shares of the industrial products company’s stock valued at $8,996,000 after purchasing an additional 24,282 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Kornit Digital in the 3rd quarter valued at $6,868,000. Institutional investors own 96.01% of the company’s stock.

KRNT traded down $0.58 during trading hours on Thursday, hitting $27.45. 133,149 shares of the company’s stock were exchanged, compared to its average volume of 529,309. Kornit Digital has a 12-month low of $15.55 and a 12-month high of $29.63. The company has a market cap of $962.53 million, a P/E ratio of 114.38 and a beta of 1.08. The company has a quick ratio of 3.34, a current ratio of 2.94 and a debt-to-equity ratio of 0.06.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Monday, May 13th. The industrial products company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). Kornit Digital had a return on equity of 4.27% and a net margin of 6.88%. The business had revenue of $38.20 million for the quarter, compared to analysts’ expectations of $37.97 million. During the same period in the previous year, the company earned $0.06 earnings per share. Kornit Digital’s quarterly revenue was up 22.8% on a year-over-year basis. Research analysts forecast that Kornit Digital will post 0.44 earnings per share for the current year.

About Kornit Digital

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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Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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