Kornit Digital Ltd. (NASDAQ:KRNT) Given Average Recommendation of “Hold” by Brokerages

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have earned a consensus rating of “Hold” from the five research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $20.25.

A number of research analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Kornit Digital in a research report on Wednesday, February 11th. Wall Street Zen raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Sunday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kornit Digital in a research report on Wednesday, March 25th. Finally, Morgan Stanley reaffirmed a “positive” rating and set a $17.00 target price on shares of Kornit Digital in a research report on Wednesday, February 11th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KRNT. Medina Value Partners LLC bought a new position in shares of Kornit Digital during the 3rd quarter worth about $12,732,000. Invenomic Capital Management LP increased its holdings in shares of Kornit Digital by 196.9% during the 4th quarter. Invenomic Capital Management LP now owns 1,397,950 shares of the industrial products company’s stock worth $20,103,000 after purchasing an additional 927,169 shares during the period. Morgan Stanley increased its holdings in shares of Kornit Digital by 26.5% during the 4th quarter. Morgan Stanley now owns 3,998,548 shares of the industrial products company’s stock worth $57,499,000 after purchasing an additional 838,814 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of Kornit Digital by 32.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,647,804 shares of the industrial products company’s stock worth $38,075,000 after purchasing an additional 650,283 shares during the period. Finally, Dudley & Shanley Inc. increased its holdings in shares of Kornit Digital by 97.5% during the 3rd quarter. Dudley & Shanley Inc. now owns 1,258,895 shares of the industrial products company’s stock worth $16,995,000 after purchasing an additional 621,595 shares during the period. Institutional investors own 92.76% of the company’s stock.

Kornit Digital Price Performance

Kornit Digital stock opened at $15.88 on Friday. The firm has a market cap of $711.27 million, a price-to-earnings ratio of -51.22 and a beta of 1.79. Kornit Digital has a fifty-two week low of $11.93 and a fifty-two week high of $23.48. The firm has a fifty day moving average price of $14.96 and a two-hundred day moving average price of $14.22.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, February 11th. The industrial products company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. The firm had revenue of $58.86 million during the quarter, compared to analyst estimates of $58.16 million. Kornit Digital had a negative net margin of 6.49% and a negative return on equity of 1.07%. The business’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. As a group, sell-side analysts expect that Kornit Digital will post -0.2 earnings per share for the current year.

Kornit Digital Company Profile

Kornit Digital Ltd. (NASDAQ: KRNT) is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha’Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company’s flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.