Kornit Digital (NASDAQ:KRNT) Price Target Raised to $26.00 at Barclays

Kornit Digital (NASDAQ:KRNT) had its target price upped by research analysts at Barclays from $21.00 to $26.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target suggests a potential upside of 1.40% from the company’s previous close.

A number of other analysts have also recently commented on KRNT. Needham & Company LLC reissued a “buy” rating and set a $27.00 target price on shares of Kornit Digital in a research note on Thursday, September 12th. Morgan Stanley boosted their target price on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Craig Hallum boosted their target price on shares of Kornit Digital from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, StockNews.com raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.50.

Kornit Digital Trading Down 0.8 %

KRNT traded down $0.20 on Tuesday, reaching $25.64. The stock had a trading volume of 194,690 shares, compared to its average volume of 368,902. Kornit Digital has a 12-month low of $13.29 and a 12-month high of $26.57. The business’s 50-day moving average price is $19.37 and its two-hundred day moving average price is $16.95. The company has a market cap of $1.22 billion, a P/E ratio of -20.95 and a beta of 1.90.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. Kornit Digital had a negative net margin of 23.63% and a negative return on equity of 3.22%. The company had revenue of $48.62 million during the quarter, compared to analysts’ expectations of $50.24 million. During the same quarter in the previous year, the company earned ($0.28) earnings per share. The firm’s revenue for the quarter was down 13.5% on a year-over-year basis. As a group, analysts predict that Kornit Digital will post -0.28 earnings per share for the current year.

Hedge Funds Weigh In On Kornit Digital

Several institutional investors and hedge funds have recently bought and sold shares of KRNT. LHM Inc. acquired a new position in Kornit Digital in the 2nd quarter valued at about $12,042,000. Chicago Capital LLC boosted its holdings in Kornit Digital by 14.9% in the 2nd quarter. Chicago Capital LLC now owns 2,857,604 shares of the industrial products company’s stock valued at $41,835,000 after purchasing an additional 370,962 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in Kornit Digital by 23.8% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,466,159 shares of the industrial products company’s stock valued at $28,092,000 after purchasing an additional 282,241 shares during the last quarter. Wasatch Advisors LP boosted its holdings in Kornit Digital by 6.7% in the 1st quarter. Wasatch Advisors LP now owns 1,810,302 shares of the industrial products company’s stock valued at $32,803,000 after purchasing an additional 114,372 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in Kornit Digital by 5.7% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,060,575 shares of the industrial products company’s stock valued at $30,167,000 after purchasing an additional 111,971 shares during the last quarter. 92.76% of the stock is currently owned by institutional investors and hedge funds.

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.