Kornit Digital (NASDAQ:KRNT) had its target price cut by investment analysts at Needham & Company LLC from $46.00 to $45.00 in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the industrial products company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 2.41% from the stock’s current price.
Several other equities analysts have also recently weighed in on KRNT. William Blair restated an “outperform” rating on shares of Kornit Digital in a research note on Monday, November 18th. BidaskClub upgraded Kornit Digital from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. ValuEngine cut Kornit Digital from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Stifel Nicolaus raised their price objective on Kornit Digital from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.00.
Shares of NASDAQ:KRNT opened at $43.94 on Wednesday. The company has a current ratio of 7.72, a quick ratio of 6.83 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $39.39 and its two-hundred day simple moving average is $33.52. Kornit Digital has a 1-year low of $20.74 and a 1-year high of $45.21. The stock has a market cap of $1.79 billion, a PE ratio of 219.70 and a beta of 1.05.
Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings data on Tuesday, February 11th. The industrial products company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. Kornit Digital had a return on equity of 2.15% and a net margin of 4.75%. The business had revenue of $48.65 million for the quarter, compared to analysts’ expectations of $48.49 million. On average, sell-side analysts forecast that Kornit Digital will post 0.23 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRNT. Lenox Wealth Advisors LLC bought a new stake in shares of Kornit Digital during the 4th quarter worth $42,000. IFP Advisors Inc bought a new stake in Kornit Digital in the 4th quarter valued at about $47,000. Tower Research Capital LLC TRC bought a new stake in Kornit Digital in the 3rd quarter valued at about $50,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Kornit Digital by 29.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,272 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 520 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in Kornit Digital by 42.7% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,351 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 703 shares during the period. Institutional investors own 96.31% of the company’s stock.
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. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.
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