Kornit Digital (NASDAQ:KRNT) Upgraded by Cantor Fitzgerald to Strong-Buy Rating

Kornit Digital (NASDAQ:KRNT) was upgraded by Cantor Fitzgerald to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other brokerages have also recently issued reports on KRNT. Needham & Company LLC upped their price objective on shares of Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley boosted their price target on Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Craig Hallum increased their price objective on Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Kornit Digital currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Kornit Digital Price Performance

KRNT opened at $24.83 on Thursday. The company has a market capitalization of $1.18 billion, a PE ratio of -70.94 and a beta of 2.02. Kornit Digital has a fifty-two week low of $13.59 and a fifty-two week high of $34.28. The business has a 50-day moving average of $29.46 and a 200-day moving average of $26.82.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates 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 research analysts expect that Kornit Digital will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Kornit Digital in the fourth quarter valued at about $399,000. Castleark Management LLC acquired a new position in shares of Kornit Digital during the 4th quarter worth about $4,200,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Kornit Digital by 11.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 115,695 shares of the industrial products company’s stock valued at $3,581,000 after purchasing an additional 11,496 shares during the period. Shellback Capital LP acquired a new stake in Kornit Digital in the 4th quarter valued at approximately $319,000. Finally, Pathstone Holdings LLC grew its holdings in Kornit Digital by 0.8% in the 4th quarter. Pathstone Holdings LLC now owns 859,668 shares of the industrial products company’s stock valued at $26,607,000 after buying an additional 6,503 shares during the last quarter. Institutional investors own 92.76% of the company’s stock.

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.