Kornit Digital Ltd. (NASDAQ:KRNT) Receives $34.00 Consensus Price Target from Analysts

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have earned a consensus rating of “Buy” from the five brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $34.00.

KRNT has been the topic of several recent analyst reports. Cantor Fitzgerald upgraded Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Needham & Company LLC lifted their price target on Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley lifted their price target on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, December 16th.

Kornit Digital Price Performance

Shares of NASDAQ KRNT opened at $21.48 on Thursday. The stock has a market capitalization of $1.02 billion, a PE ratio of -61.37 and a beta of 2.12. The business has a fifty day moving average price of $28.23 and a two-hundred day moving average price of $27.08. Kornit Digital has a fifty-two week low of $13.59 and a fifty-two week high of $34.29.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data 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 net margin of 8.24% and a negative return on equity of 1.51%. On average, equities analysts expect that Kornit Digital will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Kornit Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of KRNT. Loomis Sayles & Co. L P grew its position in Kornit Digital by 259.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company’s stock worth $38,300,000 after acquiring an additional 893,463 shares during the last quarter. AQR Capital Management LLC bought a new stake in Kornit Digital during the 4th quarter worth $14,769,000. Assenagon Asset Management S.A. grew its position in Kornit Digital by 421.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 470,674 shares of the industrial products company’s stock worth $14,567,000 after acquiring an additional 380,392 shares during the last quarter. Artemis Investment Management LLP grew its position in Kornit Digital by 138.2% during the 4th quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company’s stock worth $19,867,000 after acquiring an additional 372,443 shares during the last quarter. Finally, Hood River Capital Management LLC grew its position in Kornit Digital by 47.2% during the 4th quarter. Hood River Capital Management LLC now owns 1,099,725 shares of the industrial products company’s stock worth $34,036,000 after acquiring an additional 352,648 shares during the last quarter. Institutional investors own 92.76% of the company’s stock.

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 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.