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

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

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

Institutional Trading of Kornit Digital

A number of hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted 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 acquiring an additional 393 shares during the period. US Bancorp DE increased its position in Kornit Digital by 7.4% during the fourth quarter. US Bancorp DE now owns 8,294 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 572 shares during the last quarter. California State Teachers Retirement System increased its position in Kornit Digital by 1.2% during the fourth quarter. California State Teachers Retirement System now owns 46,855 shares of the industrial products company’s stock worth $1,450,000 after purchasing an additional 575 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Kornit Digital by 3.6% during the third quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company’s stock worth $468,000 after purchasing an additional 625 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Kornit Digital by 8.5% in the 4th quarter. American Century Companies Inc. now owns 11,120 shares of the industrial products company’s stock valued at $344,000 after purchasing an additional 874 shares during the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.

Kornit Digital Price Performance

Shares of KRNT opened at $15.82 on Monday. Kornit Digital has a 1-year low of $13.59 and a 1-year high of $34.29. The firm has a 50 day simple moving average of $24.30 and a 200-day simple moving average of $27.11. The stock has a market cap of $752.27 million, a price-to-earnings ratio of -45.20 and a beta of 2.08.

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%. On average, equities analysts expect that Kornit Digital will post -0.2 earnings per share for the current fiscal year.

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.