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

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have earned an average rating of “Buy” from the five research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $34.00.

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

Institutional Trading of Kornit Digital

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Disciplined Growth Investors Inc. MN lifted its position in shares of Kornit Digital by 2.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,113,832 shares of the industrial products company’s stock worth $54,611,000 after buying an additional 53,257 shares during the last quarter. Riverbridge Partners LLC lifted its position in shares of Kornit Digital by 21.1% in the fourth quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company’s stock worth $59,643,000 after buying an additional 335,713 shares during the last quarter. Stephens Investment Management Group LLC lifted its position in shares of Kornit Digital by 4.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company’s stock worth $41,545,000 after buying an additional 57,068 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Kornit Digital by 259.7% in the fourth 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 during the last quarter. Finally, Hood River Capital Management LLC lifted its position in shares of 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 worth $34,036,000 after buying an additional 352,648 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Trading Up 0.8 %

Shares of KRNT stock opened at $21.34 on Thursday. Kornit Digital has a 1-year low of $13.59 and a 1-year high of $34.29. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -60.97 and a beta of 2.12. The stock’s fifty day simple moving average is $27.61 and its 200-day simple moving average is $27.09.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates 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, sell-side analysts predict that Kornit Digital will post -0.2 EPS 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.