Analysts Set Kornit Digital Ltd. (NASDAQ:KRNT) Price Target at $33.20

Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) has been assigned an average rating of "Buy" from the five ratings firms that are covering the company, MarketBeat Ratings reports. One equities research 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 1-year target price among analysts that have issued ratings on the stock in the last year is $33.20.

Several research analysts recently weighed in on the company. Cantor Fitzgerald raised Kornit Digital to a "strong-buy" rating in a research report on Thursday, February 27th. Morgan Stanley reissued an "overweight" rating on shares of Kornit Digital in a research report on Thursday, May 15th. Finally, Needham & Company LLC reissued a "buy" rating and set a $30.00 price target on shares of Kornit Digital in a research report on Thursday, June 5th.

Hedge Funds Weigh In On Kornit Digital

A number of institutional investors have recently made changes to their positions in KRNT. Jane Street Group LLC grew its position in Kornit Digital by 277.4% during the first quarter. Jane Street Group LLC now owns 32,979 shares of the industrial products company's stock worth $629,000 after buying an additional 24,241 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Kornit Digital by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 117,800 shares of the industrial products company's stock worth $2,248,000 after buying an additional 2,105 shares in the last quarter. Polar Asset Management Partners Inc. grew its position in Kornit Digital by 21.7% during the first quarter. Polar Asset Management Partners Inc. now owns 584,460 shares of the industrial products company's stock worth $11,151,000 after buying an additional 104,017 shares in the last quarter. Granahan Investment Management LLC grew its position in Kornit Digital by 6.2% during the first quarter. Granahan Investment Management LLC now owns 1,693,833 shares of the industrial products company's stock worth $32,318,000 after buying an additional 98,284 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Kornit Digital during the first quarter worth about $1,601,000. 92.76% of the stock is currently owned by institutional investors.

Kornit Digital Price Performance

Shares of NASDAQ:KRNT traded down $0.84 on Friday, reaching $19.54. 413,623 shares of the company traded hands, compared to its average volume of 303,701. Kornit Digital has a fifty-two week low of $13.59 and a fifty-two week high of $34.29. The company's 50 day moving average is $20.20 and its 200-day moving average is $24.91. The stock has a market capitalization of $929.17 million, a PE ratio of -55.83 and a beta of 1.93.

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.