Kornit Digital (KRNT) Price Target Increased to $25.00 by Analysts at Stifel Nicolaus

Kornit Digital (NASDAQ:KRNT) had its price objective lifted by Stifel Nicolaus from $21.00 to $25.00 in a report published on Monday morning. Stifel Nicolaus currently has a buy rating on the industrial products company’s stock.

Other research analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Kornit Digital from a hold rating to a buy rating in a research report on Tuesday, September 4th. Barclays reiterated a buy rating and set a $22.00 price target on shares of Kornit Digital in a research report on Wednesday, August 8th. Needham & Company LLC increased their price target on shares of Kornit Digital from $18.00 to $21.00 and gave the company a buy rating in a research report on Tuesday, August 7th. BidaskClub upgraded shares of Kornit Digital from a hold rating to a buy rating in a research report on Tuesday, July 17th. Finally, Citigroup started coverage on shares of Kornit Digital in a research report on Wednesday, July 18th. They set a neutral rating and a $20.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $22.20.

Shares of NASDAQ KRNT opened at $19.66 on Monday. Kornit Digital has a one year low of $11.70 and a one year high of $22.20. The company has a market cap of $751.33 million, a price-to-earnings ratio of 182.50 and a beta of 0.38.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Monday, August 6th. The industrial products company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Kornit Digital had a net margin of 1.47% and a return on equity of 2.69%. The business had revenue of $35.90 million for the quarter, compared to analysts’ expectations of $35.26 million. During the same period last year, the business earned $0.09 earnings per share. The business’s quarterly revenue was up 25.6% on a year-over-year basis. On average, equities research analysts predict that Kornit Digital will post 0.23 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Engineers Gate Manager LP bought a new position in shares of Kornit Digital in the second quarter worth approximately $201,000. Russell Investments Group Ltd. grew its holdings in shares of Kornit Digital by 55.5% in the second quarter. Russell Investments Group Ltd. now owns 495,143 shares of the industrial products company’s stock worth $8,813,000 after purchasing an additional 176,684 shares during the last quarter. Cowen Prime Services LLC grew its holdings in shares of Kornit Digital by 20.3% in the second quarter. Cowen Prime Services LLC now owns 64,944 shares of the industrial products company’s stock worth $1,156,000 after purchasing an additional 10,950 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Kornit Digital by 78.8% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 49,900 shares of the industrial products company’s stock worth $888,000 after purchasing an additional 21,984 shares during the last quarter. Finally, Broadview Advisors LLC grew its holdings in shares of Kornit Digital by 20.7% in the second quarter. Broadview Advisors LLC now owns 473,125 shares of the industrial products company’s stock worth $8,422,000 after purchasing an additional 81,300 shares during the last quarter. Hedge funds and other institutional investors own 95.06% of the company’s stock.

Kornit Digital Company Profile

Kornit Digital Ltd. develops, manufactures, and markets industrial digital printing technologies for the garment, apparel, and textile industries. The company focuses on the direct-to-garment and roll-to-roll segments of the printed textile industry. Its solutions include digital printing systems, ink and other consumables, associated software, and value added services.

Further Reading: Do closed-end mutual funds pay dividends?

Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

Receive News & Ratings for Kornit Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kornit Digital and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply