Kornit Digital Ltd. (NASDAQ:KRNT) Receives $32.80 Consensus Target Price from Analysts

Shares of Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) have been given a consensus recommendation of "Buy" by the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $32.80.

A number of equities research analysts have recently issued reports on KRNT shares. Needham & Company LLC reduced their price target on shares of Kornit Digital from $34.00 to $28.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Cantor Fitzgerald raised shares of Kornit Digital to a "strong-buy" rating in a research note on Thursday, February 27th.

Institutional Investors Weigh In On Kornit Digital

Several large investors have recently added to or reduced their stakes in KRNT. Barclays PLC increased its stake in Kornit Digital by 130.1% during the 3rd quarter. Barclays PLC now owns 20,420 shares of the industrial products company's stock worth $527,000 after buying an additional 11,544 shares during the period. Geode Capital Management LLC increased its position in shares of Kornit Digital by 15.3% in the 3rd quarter. Geode Capital Management LLC now owns 83,229 shares of the industrial products company's stock valued at $2,150,000 after purchasing an additional 11,049 shares during the last quarter. Tidal Investments LLC increased its position in shares of Kornit Digital by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 37,365 shares of the industrial products company's stock valued at $965,000 after purchasing an additional 1,651 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Kornit Digital by 3.6% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company's stock valued at $468,000 after purchasing an additional 625 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Kornit Digital in the 3rd quarter valued at approximately $934,000. 92.76% of the stock is owned by hedge funds and other institutional investors.

Kornit Digital Trading Up 1.4 %

NASDAQ:KRNT traded up $0.26 during trading hours on Friday, hitting $18.88. The company had a trading volume of 134,178 shares, compared to its average volume of 293,423. The company has a 50-day moving average of $20.32 and a 200 day moving average of $26.22. The company has a market cap of $897.78 million, a P/E ratio of -53.94 and a beta of 2.08. Kornit Digital has a 1 year low of $13.59 and a 1 year high of $34.29.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts forecast that Kornit Digital will post -0.2 earnings per share for the current year.

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.