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

Key Points

• Kornit Digital Ltd. has received a consensus rating of "Moderate Buy" from six brokerages, with an average 1-year target price set at $31.40.
• The company's stock has recently experienced a decline, trading down 1.2% to $13.63, with a significant difference between its 1-year low of $12.78 and a high of $34.28.
• Kornit Digital reported a marginal EPS of $0.03 for the last quarter, beating estimates, but fell short of revenue expectations with $49.75 million reported against the forecast of $52.07 million.

Shares of Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $31.40.

A number of equities research analysts have recently commented on KRNT shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of Kornit Digital in a report on Saturday, September 27th. Barclays set a $22.00 price objective on shares of Kornit Digital and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Finally, Needham & Company LLC lowered their price objective on shares of Kornit Digital from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th.

Kornit Digital Trading Down 1.2%

KRNT traded down $0.17 during midday trading on Friday, reaching $13.63. The company's stock had a trading volume of 327,355 shares, compared to its average volume of 400,451. The stock's 50-day moving average is $15.46 and its 200-day moving average is $18.49. Kornit Digital has a 1 year low of $12.78 and a 1 year high of $34.28. The firm has a market capitalization of $610.56 million, a price-to-earnings ratio of -54.52 and a beta of 1.90.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. Kornit Digital had a negative net margin of 5.43% and a negative return on equity of 0.74%. The firm had revenue of $49.75 million for the quarter, compared to analysts' expectations of $52.07 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The business's revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Kornit Digital will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Chicago Capital LLC raised its position in Kornit Digital by 0.3% in the first quarter. Chicago Capital LLC now owns 3,105,206 shares of the industrial products company's stock worth $59,247,000 after acquiring an additional 10,656 shares during the period. Hood River Capital Management LLC boosted its stake in Kornit Digital by 39.1% during the second quarter. Hood River Capital Management LLC now owns 2,182,569 shares of the industrial products company's stock worth $43,455,000 after buying an additional 613,070 shares during the period. Granahan Investment Management LLC boosted its stake in shares of 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 valued at $32,318,000 after purchasing an additional 98,284 shares during the period. Stephens Investment Management Group LLC boosted its stake in shares of Kornit Digital by 12.8% during the second quarter. Stephens Investment Management Group LLC now owns 1,526,904 shares of the industrial products company's stock valued at $30,401,000 after purchasing an additional 173,492 shares during the period. Finally, Schroder Investment Management Group boosted its stake in shares of Kornit Digital by 18.1% during the second quarter. Schroder Investment Management Group now owns 1,046,889 shares of the industrial products company's stock valued at $20,844,000 after purchasing an additional 160,374 shares during the period. 92.76% of the stock is currently owned by institutional investors.

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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