Kornit Digital Ltd. (NASDAQ:KRNT) Received Consensus “Buy” Recommendation From Brokerages
The shares of Kornit Digital Ltd. (NASDAQ:KRNT – Get Rating) earned an average rating of “Buy” from the eight analysts currently covering the company, Marketbeat Ratings reports. One equity research analyst rated the stock with a sell rating, one gave a hold rating and five gave the company a buy rating. The 12-month average price target among analysts who have updated their coverage of the stock over the past year is $173.80.
A number of research companies have recently commented on KRNT. Zacks Investment Research upgraded Kornit Digital from a “Strong Sell” rating to a “Hold” rating in a Wednesday, April 20 report. StockNews.com began covering Kornit Digital in a report on Thursday, March 31. They issued a “sell” rating for the company. Finally, Needham & Company LLC reduced its price target on Kornit Digital from $202.00 to $155.00 and set a “buy” rating for the company in a Thursday, April 21 report.
Shares of Kornit Digital fell $2.86 on Friday, hitting $39.95. 14,711 shares were traded, against an average volume of 992,391. Kornit Digital has a 12-month low of $31.01 and a 12-month high of $181.38. The company has a market capitalization of $1.98 billion, a price-earnings ratio of 334.03 and a beta of 1.91. The company has a 50-day moving average price of $70.53 and a two-hundred-day moving average price of $106.61.
Kornit Digital (NASDAQ:KRNT – Get Rating) last released its results on Tuesday, February 15. The industrial products company reported EPS of $0.06 for the quarter, missing analyst consensus estimates of $0.18 per ($0.12). Kornit Digital had a return on equity of 1.63% and a net margin of 1.54%. The company posted revenue of $95.40 million for the quarter, versus analyst estimates of $89.99 million. During the same period last year, the company achieved EPS of $0.19. The company’s revenue for the quarter increased by 28.7% compared to the same quarter last year. On average, research analysts predict that Kornit Digital will post 0.77 earnings per share for the current fiscal year.
Several hedge funds have recently changed their positions in the company. The Manufacturers Life Insurance Company increased its stake in Kornit Digital shares by 65.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 20,000 shares of the industrial products company worth $1,654,000 after purchasing an additional 7,900 shares during the period. Capital International Investors increased its equity stake in Kornit Digital by 48.4% during the 1st quarter. Capital International Investors now owns 708,916 shares of the industrial products company worth $58,620,000 after purchasing an additional 231,270 shares during the period. Walleye Capital LLC increased its stake in the shares of Kornit Digital by 156.0% during the 1st quarter. Walleye Capital LLC now owns 85,668 shares of the industrial products company worth $7,084,000 after purchasing an additional 52,202 shares during the period. Alyeska Investment Group LP acquired a new stock position in Kornit Digital during Q1 worth approximately $5,118,000. Finally, Polar Capital Holdings Plc increased its stake in Kornit Digital shares by 64.1% during the 1st quarter. Polar Capital Holdings Plc now owns 733,398 shares of the industrial products company worth $60,645,000 after purchasing an additional 286,525 shares during the period. 92.13% of the shares are held by institutional investors and hedge funds.
About Kornit Digital (Get an assessment)
Kornit Digital Ltd. develops, designs and markets digital printing solutions for the fashion, apparel and home décor segments of the printed textile industry in the United States, Europe, Middle East, Africa, Asia-Pacific and internationally. The company’s solutions include digital printing systems, ink and other consumables, associated software and value-added services.
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