Craig Hallum started coverage on shares of Kornit Digital Ltd. (NASDAQ:KRNT) in a research report sent to investors on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $26.00 price target on the industrial products company’s stock.
Several other research analysts have also recently commented on KRNT. William Blair reiterated an outperform rating on shares of Kornit Digital in a report on Friday, March 24th. Citigroup Inc. set a $22.00 target price on shares of Kornit Digital and gave the company a buy rating in a report on Tuesday, April 25th. Barclays PLC upped their target price on shares of Kornit Digital from $20.00 to $22.00 and gave the company an overweight rating in a report on Wednesday, May 10th. Finally, Zacks Investment Research cut shares of Kornit Digital from a hold rating to a sell rating in a report on Tuesday, May 16th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $21.50.
Shares of Kornit Digital (NASDAQ KRNT) traded up 1.43% during midday trading on Tuesday, reaching $21.25. 167,639 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $18.95 and its 200 day moving average price is $17.49. Kornit Digital has a 1-year low of $8.90 and a 1-year high of $23.15. The stock’s market capitalization is $693.98 million.
Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Tuesday, May 9th. The industrial products company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by $0.04. Kornit Digital had a positive return on equity of 5.95% and a negative net margin of 0.60%. The firm had revenue of $27.10 million for the quarter, compared to analyst estimates of $29.20 million. During the same quarter last year, the firm earned $0.02 EPS. The company’s revenue was up 24.1% on a year-over-year basis. On average, equities analysts predict that Kornit Digital will post $0.42 earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of the company. United Services Automobile Association boosted its stake in shares of Kornit Digital by 256.1% in the first quarter. United Services Automobile Association now owns 443,390 shares of the industrial products company’s stock worth $8,469,000 after buying an additional 318,890 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Kornit Digital during the fourth quarter worth $218,000. Russell Investments Group Ltd. acquired a new stake in shares of Kornit Digital during the first quarter worth $3,557,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Kornit Digital during the first quarter worth $1,627,000. Finally, Next Century Growth Investors LLC acquired a new stake in shares of Kornit Digital during the first quarter worth $3,493,000. Hedge funds and other institutional investors own 58.69% of the company’s stock.
About Kornit Digital
Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.
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