Kornit Digital’s (KRNT) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Kornit Digital (NASDAQ:KRNT) in a research report released on Thursday morning,Benzinga reports. They currently have a $39.00 target price on the industrial products company’s stock.

Other equities analysts also recently issued reports about the stock. Morgan Stanley boosted their price target on shares of Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Craig Hallum boosted their price objective on Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC boosted their price objective on Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.00.

Kornit Digital Price Performance

KRNT opened at $27.60 on Thursday. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -31.36 and a beta of 2.02. The firm’s fifty day moving average price is $30.50 and its two-hundred day moving average price is $26.26. Kornit Digital has a 1 year low of $13.59 and a 1 year high of $34.28.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. As a group, equities analysts anticipate that Kornit Digital will post -0.22 EPS for the current year.

Institutional Trading of Kornit Digital

Institutional investors and hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp grew its holdings in shares of Kornit Digital by 23.4% during the 4th quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 393 shares during the last quarter. US Bancorp DE grew its holdings in shares of Kornit Digital by 7.4% during the 4th quarter. US Bancorp DE now owns 8,294 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 572 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Kornit Digital by 3.6% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company’s stock valued at $468,000 after purchasing an additional 625 shares during the last quarter. Trust Point Inc. grew its holdings in shares of Kornit Digital by 4.6% during the 3rd quarter. Trust Point Inc. now owns 17,868 shares of the industrial products company’s stock valued at $462,000 after purchasing an additional 785 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Kornit Digital by 8.5% during the 4th quarter. American Century Companies Inc. now owns 11,120 shares of the industrial products company’s stock valued at $344,000 after purchasing an additional 874 shares during the last quarter. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

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 in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. Its solutions include digital printing systems, ink and other consumables, associated software, and value-added services.