Kornit Digital's (KRNT) Sell (E+) Rating Reaffirmed at Weiss Ratings

Key Points

• Kornit Digital's stock has been reaffirmed with a "sell (e+)" rating by Weiss Ratings, continuing its trend of negative analyst sentiment.
• Barclays and Needham & Company recently adjusted their price targets for Kornit Digital, with Barclays setting it at $22 and Needham lowering theirs from $30 to $25.
• The company reported a quarterly earnings per share of $0.03, slightly above analysts' expectations; however, its revenue fell short of estimates, leading to a negative net margin of 5.43%.

Kornit Digital (NASDAQ:KRNT - Get Free Report)'s stock had its "sell (e+)" rating reissued by stock analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

KRNT has been the subject of several other reports. Barclays set a $22.00 price objective on shares of Kornit Digital and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Needham & Company LLC decreased their price objective on shares of Kornit Digital from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.40.

Kornit Digital Stock Up 2.3%

NASDAQ KRNT opened at $13.46 on Wednesday. The company has a market capitalization of $602.87 million, a price-to-earnings ratio of -53.84 and a beta of 1.90. Kornit Digital has a twelve month low of $12.78 and a twelve month high of $34.28. The stock has a fifty day simple moving average of $15.02 and a 200 day simple moving average of $18.32.

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

Institutional Investors Weigh In On Kornit Digital

A number of large investors have recently bought and sold shares of KRNT. Dudley & Shanley Inc. grew its holdings in Kornit Digital by 97.5% in the third quarter. Dudley & Shanley Inc. now owns 1,258,895 shares of the industrial products company's stock worth $16,995,000 after purchasing an additional 621,595 shares during the period. Hood River Capital Management LLC grew its holdings in Kornit Digital by 39.1% in 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 purchasing an additional 613,070 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Kornit Digital by 79.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 557,873 shares of the industrial products company's stock worth $11,107,000 after purchasing an additional 247,763 shares during the period. Stephens Investment Management Group LLC grew its holdings in Kornit Digital by 12.8% in the second quarter. Stephens Investment Management Group LLC now owns 1,526,904 shares of the industrial products company's stock worth $30,401,000 after purchasing an additional 173,492 shares during the period. Finally, Schroder Investment Management Group grew its holdings in Kornit Digital by 18.1% in the second quarter. Schroder Investment Management Group now owns 1,046,889 shares of the industrial products company's stock worth $20,844,000 after purchasing an additional 160,374 shares during the period. 92.76% of the stock is currently owned by institutional investors and hedge funds.

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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