Kornit Digital Ltd. (NASDAQ:KRNT) Receives Average Rating of "Buy" from Brokerages

Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) has received an average recommendation of "Buy" from the five analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $33.20.

A number of research firms recently weighed in on KRNT. Morgan Stanley reaffirmed an "overweight" rating on shares of Kornit Digital in a research note on Thursday, May 15th. Needham & Company LLC reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Kornit Digital in a research note on Thursday, June 5th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. grew its position in shares of Kornit Digital by 654.5% in the 4th quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company's stock worth $64,000 after buying an additional 1,800 shares during the last quarter. Deutsche Bank AG grew its position in shares of Kornit Digital by 31.5% in the 4th quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company's stock worth $148,000 after buying an additional 1,143 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Kornit Digital in the 4th quarter worth approximately $159,000. Headlands Technologies LLC purchased a new position in shares of Kornit Digital in the 1st quarter worth approximately $101,000. Finally, Pictet Asset Management Holding SA purchased a new position in shares of Kornit Digital in the 4th quarter worth approximately $203,000. Hedge funds and other institutional investors own 92.76% of the company's stock.

Kornit Digital Trading Down 1.0%

Shares of KRNT opened at $19.42 on Wednesday. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $34.29. The firm has a fifty day moving average price of $20.66 and a 200-day moving average price of $23.31. The firm has a market capitalization of $923.42 million, a P/E ratio of -107.88 and a beta of 1.88.

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.

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