Kornit Digital Ltd. (NASDAQ:KRNT) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• Kornit Digital Ltd. (NASDAQ:KRNT) has received a consensus recommendation of “Buy” from five analysts, with an average 1-year target price of $33.20.
• Institutional investors own approximately 92.76% of Kornit Digital's stock, with significant increases in holdings from several firms, including Deutsche Bank AG and California State Teachers Retirement System.
• The company's stock has recently traded down by 6.8%, opening at $18.65, while it has a market cap of $886.81 million and a P/E ratio of -103.61.

Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) has been assigned an average rating of "Buy" from the five analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $33.20.

Several brokerages recently issued reports on KRNT. Needham & Company LLC reissued a "buy" rating and set a $30.00 target price on shares of Kornit Digital in a report on Thursday, June 5th. Morgan Stanley reissued an "overweight" rating on shares of Kornit Digital in a report on Thursday, May 15th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System increased its holdings in Kornit Digital by 1.2% in the fourth quarter. California State Teachers Retirement System now owns 46,855 shares of the industrial products company's stock valued at $1,450,000 after buying an additional 575 shares in the last quarter. American Century Companies Inc. increased its holdings in Kornit Digital by 8.5% in the fourth quarter. American Century Companies Inc. now owns 11,120 shares of the industrial products company's stock valued at $344,000 after buying an additional 874 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Kornit Digital by 9.2% in the first quarter. Bank of New York Mellon Corp now owns 13,539 shares of the industrial products company's stock valued at $258,000 after buying an additional 1,141 shares in the last quarter. Deutsche Bank AG increased its holdings in Kornit Digital by 31.5% in the fourth quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company's stock valued at $148,000 after buying an additional 1,143 shares in the last quarter. Finally, Nebula Research & Development LLC increased its holdings in Kornit Digital by 11.1% in the fourth quarter. Nebula Research & Development LLC now owns 11,621 shares of the industrial products company's stock valued at $360,000 after buying an additional 1,161 shares in the last quarter. Hedge funds and other institutional investors own 92.76% of the company's stock.

Kornit Digital Trading Down 6.8%

NASDAQ KRNT opened at $18.65 on Friday. The company has a fifty day simple moving average of $20.71 and a two-hundred day simple moving average of $22.05. The stock has a market cap of $886.81 million, a P/E ratio of -103.61 and a beta of 1.90. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $34.28.

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.

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