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

Key Points

• Kornit Digital has a consensus analyst rating of "Hold" from five brokerages, with one sell, two hold, and two buy ratings. The average 12-month price target is $21.00.
• The stock recently opened at $15.65, below its 52-week high of $22.06 and above its low of $11.93. Kornit Digital has a market cap of about $700.96 million.
• In its latest quarterly results, the company reported breakeven EPS of -$0.01 versus expectations and revenue of $48.54 million, up 4.4% year over year. Analysts expect the company to post -0.28 EPS for the current year.

Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) has received a consensus rating of "Hold" from the five brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $21.00.

A number of equities research analysts have recently weighed in on KRNT shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kornit Digital in a report on Wednesday, March 25th. Wall Street Zen raised Kornit Digital from a "sell" rating to a "hold" rating in a research report on Sunday, April 12th. Morgan Stanley raised their price objective on Kornit Digital from $17.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 23rd. Finally, Needham & Company LLC lifted their price objective on shares of Kornit Digital from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, May 14th.

Kornit Digital Stock Performance

Shares of KRNT stock opened at $15.65 on Tuesday. Kornit Digital has a one year low of $11.93 and a one year high of $22.06. The company's 50-day simple moving average is $15.81 and its 200-day simple moving average is $15.20. The stock has a market capitalization of $700.96 million, a price-to-earnings ratio of -40.13 and a beta of 1.73.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The industrial products company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). Kornit Digital had a negative return on equity of 1.15% and a negative net margin of 7.93%.The firm had revenue of $48.54 million during the quarter, compared to analyst estimates of $46.67 million. During the same period in the previous year, the company earned $0.01 earnings per share. Kornit Digital's quarterly revenue was up 4.4% on a year-over-year basis. As a group, research analysts forecast that Kornit Digital will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Van ECK Associates Corp grew its position in shares of Kornit Digital by 6.9% during the 4th quarter. Van ECK Associates Corp now owns 12,742 shares of the industrial products company's stock valued at $183,000 after buying an additional 820 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Kornit Digital by 11.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 12,200 shares of the industrial products company's stock worth $175,000 after acquiring an additional 1,300 shares during the period. Raymond James Financial Inc. bought a new position in Kornit Digital in the second quarter worth about $31,000. State of Tennessee Department of Treasury bought a new position in Kornit Digital in the second quarter worth about $35,000. Finally, CIBC Private Wealth Group LLC boosted its stake in Kornit Digital by 1,359.8% in the third quarter. CIBC Private Wealth Group LLC now owns 1,927 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 1,795 shares during the period. 92.76% of the stock is currently owned by institutional investors.

Kornit Digital Company Profile

Kornit Digital Ltd. NASDAQ: KRNT is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha'Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company's flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.

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