Kornit Digital (NASDAQ:KRNT) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Kornit Digital (NASDAQ:KRNT) in a research report sent to investors on Tuesday morning, Marketbeat reports. The firm issued an overweight rating and a $39.00 price target on the industrial products company’s stock.

Several other equities research analysts have also issued reports on the stock. Morgan Stanley lifted their price target on shares of Kornit Digital from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, September 13th. StockNews.com upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Craig Hallum increased their price target on Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC boosted their price objective on Kornit Digital from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Barclays increased their target price on Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Kornit Digital Price Performance

Shares of NASDAQ:KRNT opened at $31.36 on Tuesday. The company’s 50 day simple moving average is $26.80 and its 200 day simple moving average is $20.10. Kornit Digital has a 1 year low of $13.59 and a 1 year high of $33.00. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -35.64 and a beta of 1.93.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The company had revenue of $50.73 million during the quarter, compared to analysts’ expectations of $50.44 million. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. Kornit Digital’s revenue was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) EPS. As a group, analysts anticipate that Kornit Digital will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Kornit Digital

A number of hedge funds and other institutional investors have recently made changes to their positions in KRNT. nVerses Capital LLC acquired a new stake in Kornit Digital during the 2nd quarter valued at approximately $40,000. Signaturefd LLC boosted its stake in shares of Kornit Digital by 29.4% in the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 779 shares during the last quarter. Privium Fund Management B.V. acquired a new stake in shares of Kornit Digital during the second quarter worth $159,000. Bank of New York Mellon Corp raised its stake in Kornit Digital by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock worth $235,000 after buying an additional 1,184 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in Kornit Digital by 26.2% during the second quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company’s stock worth $256,000 after buying an additional 3,633 shares during the last quarter. 92.76% of the stock is 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.