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

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have received an average rating of “Buy” from the five research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $34.00.

Several equities research analysts have recently commented on the company. Needham & Company LLC upped their target price on Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley boosted their price objective on Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Finally, Cantor Fitzgerald upgraded shares of Kornit Digital to a “strong-buy” rating in a report on Thursday, February 27th.

Hedge Funds Weigh In On Kornit Digital

Large investors have recently made changes to their positions in the business. Loomis Sayles & Co. L P lifted its position in Kornit Digital by 259.7% in 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 buying an additional 893,463 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Kornit Digital in the fourth quarter worth $14,769,000. Assenagon Asset Management S.A. raised its holdings in shares of Kornit Digital by 421.3% during the fourth 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 in the last quarter. Artemis Investment Management LLP boosted its position in Kornit Digital by 138.2% during the fourth quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company’s stock valued at $19,867,000 after purchasing an additional 372,443 shares during the last quarter. Finally, Hood River Capital Management LLC grew its stake in Kornit Digital by 47.2% in the fourth quarter. Hood River Capital Management LLC now owns 1,099,725 shares of the industrial products company’s stock valued at $34,036,000 after purchasing an additional 352,648 shares in the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Price Performance

NASDAQ KRNT opened at $19.59 on Monday. Kornit Digital has a 12 month low of $13.59 and a 12 month high of $34.29. The company has a market capitalization of $931.54 million, a P/E ratio of -55.97 and a beta of 2.08. The company’s 50 day simple moving average is $24.86 and its 200 day simple moving average is $27.23.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) 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, analysts anticipate that Kornit Digital will post -0.2 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 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.