Kornit Digital Ltd. (NASDAQ:KRNT) Stock Has Consensus Target Price of $21.50

Key Points

• Analysts have a consensus “Hold” rating on Kornit Digital, with three holds, two buys, and one sell; the average 12-month price target is $21.50 versus the stock’s reported $15.56 price.
• Kornit’s latest quarterly results exceeded expectations, with EPS of $0.04 versus a $0.01 loss estimate and revenue of $55.32 million, up 11.1% year over year.
• Institutional investors own 92.76% of the company, while the stock remains unprofitable, with a negative net margin of 9.42% and analysts projecting full-year EPS of -$0.23.

Shares of Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) have received a consensus recommendation of "Hold" from the six ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $21.50.

Several equities analysts have recently issued reports on KRNT shares. Needham & Company LLC upped their target price on Kornit Digital from $22.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Zacks Research raised Kornit Digital from a "strong sell" rating to a "hold" rating in a research report on Monday, August 24th. Weiss Ratings cut Kornit Digital from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, September 16th. Finally, Morgan Stanley boosted their price target on shares of Kornit Digital from $18.00 to $19.00 and gave the stock an "equal weight" rating in a report on Thursday, August 13th.

Institutional Trading of Kornit Digital

Several hedge funds have recently added to or reduced their stakes in KRNT. Lone Peak Global Investors LLC boosted its stake in Kornit Digital by 2.6% in the second quarter. Lone Peak Global Investors LLC now owns 36,069 shares of the industrial products company's stock valued at $586,000 after acquiring an additional 908 shares during the last quarter. Clifford Capital Partners LLC increased its stake in shares of Kornit Digital by 29.7% during the 4th quarter. Clifford Capital Partners LLC now owns 30,588 shares of the industrial products company's stock worth $440,000 after purchasing an additional 7,007 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Kornit Digital during the 2nd quarter worth approximately $224,000. Amundi purchased a new stake in shares of Kornit Digital during the 1st quarter worth approximately $214,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Kornit Digital in the 2nd quarter worth approximately $300,000. Institutional investors own 92.76% of the company's stock.

Kornit Digital Stock Performance

Kornit Digital stock opened at $15.56 on Friday. Kornit Digital has a fifty-two week low of $11.93 and a fifty-two week high of $19.78. The firm's 50-day simple moving average is $16.13 and its 200 day simple moving average is $15.73. The stock has a market cap of $668.61 million, a PE ratio of -32.42 and a beta of 1.74.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The industrial products company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05. Kornit Digital had a negative net margin of 9.42% and a negative return on equity of 1.00%. The firm had revenue of $55.32 million during the quarter, compared to analyst estimates of $52.80 million. During the same quarter last year, the business posted $0.03 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts predict that Kornit Digital will post -0.23 EPS for the current fiscal year.

About Kornit Digital

Kornit Digital Ltd. NASDAQ: KRNT develops and manufactures digital printing technologies for the textile, apparel, and related consumer-product industries. Its solutions are designed to support on-demand, short-run, and customized production, helping businesses reduce reliance on traditional analog printing processes.

The company's product portfolio includes direct-to-garment and direct-to-fabric printing systems, digital printing inks, pretreatment solutions, and workflow software. Kornit also provides related services and support intended to help customers manage design, production, color, and order fulfillment across textile-printing operations.

Kornit serves customers globally, including apparel brands, retailers, manufacturers, print service providers, and e-commerce businesses.

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