Kornit Digital (NASDAQ:KRNT) Given New $33.00 Price Target at Craig Hallum

Kornit Digital (NASDAQ:KRNT) had its price objective upped by Craig Hallum from $27.00 to $33.00 in a research report sent to investors on Thursday,Benzinga reports. Craig Hallum currently has a buy rating on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the stock. Barclays raised their price target on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. StockNews.com upgraded Kornit Digital from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Morgan Stanley boosted their target price on shares of Kornit Digital from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Finally, Needham & Company LLC increased their target price on shares of Kornit Digital from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.00.

Kornit Digital Trading Up 0.2 %

KRNT traded up $0.05 on Thursday, hitting $30.47. 230,680 shares of the stock traded hands, compared to its average volume of 369,860. The business has a fifty day moving average price of $23.62 and a two-hundred day moving average price of $18.46. Kornit Digital has a 52 week low of $13.59 and a 52 week high of $31.19. The firm has a market capitalization of $1.45 billion, a PE ratio of -29.53 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. Kornit Digital had a negative net margin of 23.63% and a negative return on equity of 3.22%. The firm had revenue of $50.73 million for the quarter, compared to the consensus estimate of $50.44 million. During the same quarter in the previous year, the company earned ($0.17) earnings per share. The business’s revenue was down 14.3% compared to the same quarter last year. On average, equities research analysts forecast that Kornit Digital will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Kornit Digital

A number of hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC lifted its position in shares of Kornit Digital by 97.9% during the first quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 1,027 shares in the last quarter. nVerses Capital LLC bought a new position in Kornit Digital in the 2nd quarter worth approximately $40,000. Signaturefd LLC lifted its holdings in Kornit Digital by 29.4% during the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock worth $50,000 after buying an additional 779 shares in the last quarter. Privium Fund Management B.V. bought a new position in Kornit Digital in the 2nd quarter valued at $159,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Kornit Digital by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock valued at $235,000 after buying an additional 1,184 shares during the period. Institutional investors own 92.76% of the company’s stock.

Kornit Digital Company Profile

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.