Kornit Digital (NASDAQ:KRNT) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Kornit Digital from a "sell" to a "hold," signaling a modest improvement in sentiment toward the stock.
• Analyst coverage is mixed — three Buys, one Hold and one Sell — with a consensus target price of $20.25 versus the stock's recent open around $15.88, implying potential upside.
• Kornit slightly beat quarterly estimates (EPS $0.18 vs. $0.14; revenue $58.86M) but revenue was down 3% year‑over‑year and the company still shows negative margins and a forecasted negative EPS for the year.

Kornit Digital (NASDAQ:KRNT - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Sunday.

KRNT has been the topic of several other research reports. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price target on shares of Kornit Digital in a report on Wednesday, February 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Kornit Digital in a research report on Wednesday, March 25th. Finally, Morgan Stanley reissued a "positive" rating and set a $17.00 price objective on shares of Kornit Digital in a research report on Wednesday, February 11th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $20.25.

Kornit Digital Stock Down 0.9%

NASDAQ KRNT opened at $15.88 on Friday. Kornit Digital has a 52 week low of $11.93 and a 52 week high of $23.48. The business's fifty day simple moving average is $14.96 and its 200-day simple moving average is $14.22. The firm has a market cap of $711.27 million, a PE ratio of -51.22 and a beta of 1.79.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The industrial products company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.14 by $0.04. Kornit Digital had a negative return on equity of 1.07% and a negative net margin of 6.49%.The business had revenue of $58.86 million for the quarter, compared to analyst estimates of $58.16 million. During the same quarter in the previous year, the firm earned $0.18 EPS. The company's quarterly revenue was down 3.0% compared to the same quarter last year. Research analysts expect that Kornit Digital will post -0.2 EPS for the current year.

Institutional Trading of Kornit Digital

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Senvest Management LLC increased its position in shares of Kornit Digital by 4.1% during the 4th quarter. Senvest Management LLC now owns 4,141,355 shares of the industrial products company's stock worth $59,553,000 after purchasing an additional 162,100 shares during the last quarter. Morgan Stanley grew its position in Kornit Digital by 26.5% in the 4th quarter. Morgan Stanley now owns 3,998,548 shares of the industrial products company's stock valued at $57,499,000 after acquiring an additional 838,814 shares in the last quarter. Artisan Partners Limited Partnership grew its position in Kornit Digital by 32.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,647,804 shares of the industrial products company's stock valued at $38,075,000 after acquiring an additional 650,283 shares in the last quarter. Granahan Investment Management LLC grew its position in Kornit Digital by 31.4% in the 4th quarter. Granahan Investment Management LLC now owns 2,569,663 shares of the industrial products company's stock valued at $36,952,000 after acquiring an additional 614,513 shares in the last quarter. Finally, Baillie Gifford & Co. grew its position in Kornit Digital by 61.7% in the 4th quarter. Baillie Gifford & Co. now owns 1,565,079 shares of the industrial products company's stock valued at $22,506,000 after acquiring an additional 597,128 shares in the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.

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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