Cantor Fitzgerald Upgrades Kornit Digital (NASDAQ:KRNT) to “Strong-Buy”

Kornit Digital (NASDAQ:KRNT) was upgraded by analysts at Cantor Fitzgerald to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

KRNT has been the subject of a number of other research reports. Craig Hallum increased their price objective on shares of Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Morgan Stanley increased their price objective on shares of Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, Needham & Company LLC increased their price objective on shares of Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Kornit Digital has an average rating of “Moderate Buy” and an average target price of $34.00.

Kornit Digital Stock Down 0.3 %

KRNT opened at $24.76 on Thursday. Kornit Digital has a twelve month low of $13.59 and a twelve month high of $34.28. The company has a 50-day moving average price of $29.31 and a 200 day moving average price of $26.81. The company has a market cap of $1.18 billion, a PE ratio of -70.74 and a beta of 2.02.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. As a group, sell-side analysts expect that Kornit Digital will post -0.2 earnings per share for the current year.

Institutional Trading of Kornit Digital

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp increased 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 worth $64,000 after buying an additional 393 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Kornit Digital by 654.5% during the 4th quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company’s stock worth $64,000 after buying an additional 1,800 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Kornit Digital by 35.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock worth $117,000 after buying an additional 988 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Kornit Digital by 31.5% during the 4th quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 1,143 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in shares of Kornit Digital during the 4th quarter worth approximately $159,000. Institutional investors and hedge funds own 92.76% of the company’s stock.

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.