Kornit Digital (NASDAQ:KRNT) had its price target upped by equities researchers at Craig Hallum from $35.00 to $46.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Craig Hallum’s target price points to a potential upside of 4.69% from the stock’s current price.
Several other equities analysts also recently issued reports on KRNT. Stifel Nicolaus upped their price objective on shares of Kornit Digital from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC reduced their price objective on shares of Kornit Digital from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday. William Blair reissued an “outperform” rating on shares of Kornit Digital in a research note on Monday, November 18th. BidaskClub raised shares of Kornit Digital from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, ValuEngine downgraded shares of Kornit Digital from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $46.00.
Shares of KRNT opened at $43.94 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.83 and a current ratio of 7.72. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 219.70 and a beta of 1.05. The company’s 50 day simple moving average is $39.39 and its 200 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.
Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Tuesday, February 11th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. The business had revenue of $48.65 million for the quarter, compared to the consensus estimate of $48.49 million. Kornit Digital had a net margin of 4.75% and a return on equity of 2.15%. Equities analysts expect that Kornit Digital will post 0.23 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in KRNT. Lenox Wealth Advisors LLC acquired a new position in Kornit Digital during the fourth quarter worth approximately $42,000. IFP Advisors Inc acquired a new position in Kornit Digital during the fourth quarter worth approximately $47,000. Tower Research Capital LLC TRC acquired a new position in Kornit Digital during the third quarter worth approximately $50,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Kornit Digital by 29.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,272 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 520 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in Kornit Digital by 42.7% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,351 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 703 shares during the last quarter. 96.31% 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. 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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