Brokerages Set Kornit Digital Ltd. (NASDAQ:KRNT) Target Price at $34.00

Kornit Digital Ltd. (NASDAQ:KRNT) has received a consensus rating of “Buy” from the five ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $34.00.

Several brokerages recently commented on KRNT. Cantor Fitzgerald upgraded shares of Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Morgan Stanley boosted their price objective 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. Finally, Needham & Company LLC lifted their target price on shares of Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th.

Kornit Digital Trading Down 7.0 %

KRNT stock opened at $19.97 on Thursday. The company has a market cap of $949.61 million, a price-to-earnings ratio of -57.06 and a beta of 2.12. Kornit Digital has a 12 month low of $13.59 and a 12 month high of $34.29. The firm has a 50-day moving average of $28.00 and a two-hundred day moving average of $27.13.

Kornit Digital (NASDAQ:KRNT) last posted 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 net margin of 8.24% and a negative return on equity of 1.51%. As a group, equities analysts forecast that Kornit Digital will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Kornit Digital

Several institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. bought a new position in shares of Kornit Digital in the third quarter worth about $934,000. Privium Fund Management B.V. increased its stake in shares of Kornit Digital by 8.8% in the third quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company’s stock worth $305,000 after purchasing an additional 950 shares during the period. Lisanti Capital Growth LLC bought a new position in shares of Kornit Digital in the third quarter worth about $2,523,000. Telemark Asset Management LLC bought a new position in shares of Kornit Digital in the third quarter worth about $1,033,000. Finally, Loomis Sayles & Co. L P bought a new position in shares of Kornit Digital in the third quarter worth about $8,887,000. 92.76% of the stock is currently owned by 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.