Kornit Digital Ltd. (NASDAQ:KRNT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Kornit Digital, Ltd. is engaged in developing, manufacturing and marketing industrial and commercial printing solutions. The company offers a portfolio of direct to garment printers from entry level to mass production; NeoPigment ink solutions; roll to roll printers and pretereatment systems and software for the garment and textile printing industry. Kornit Digital, Ltd. is headquartered in Rosh-Ha`Ayin, Israel. “
KRNT has been the topic of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of Kornit Digital in a research note on Tuesday, July 5th. Canaccord Genuity reiterated a “buy” rating and issued a $20.00 price target on shares of Kornit Digital in a research note on Friday, July 1st. TheStreet upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. Finally, Stifel Nicolaus dropped their price target on shares of Kornit Digital from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $16.00.
Kornit Digital (NASDAQ:KRNT) opened at 9.57 on Wednesday. Kornit Digital has a 12 month low of $8.10 and a 12 month high of $13.50. The company has a market cap of $291.64 million, a price-to-earnings ratio of 74.77 and a beta of -0.11. The firm’s 50-day moving average is $10.12 and its 200-day moving average is $9.97.
Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.02. The firm earned $24 million during the quarter, compared to the consensus estimate of $24.53 million. Kornit Digital had a return on equity of 4.54% and a net margin of 4.12%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.07 EPS. On average, analysts anticipate that Kornit Digital will post $0.27 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the company. Grandeur Peak Global Advisors LLC raised its position in shares of Kornit Digital by 11.6% in the second quarter. Grandeur Peak Global Advisors LLC now owns 95,126 shares of the company’s stock worth $928,000 after buying an additional 9,850 shares during the period. United Services Automobile Association raised its position in shares of Kornit Digital by 14.5% in the second quarter. United Services Automobile Association now owns 122,500 shares of the company’s stock worth $1,196,000 after buying an additional 15,500 shares during the period. BlackRock Fund Advisors raised its position in shares of Kornit Digital by 43.4% in the second quarter. BlackRock Fund Advisors now owns 119,270 shares of the company’s stock worth $1,164,000 after buying an additional 36,123 shares during the period. Schroder Investment Management Group raised its position in shares of Kornit Digital by 12.8% in the second quarter. Schroder Investment Management Group now owns 1,017,767 shares of the company’s stock worth $9,933,000 after buying an additional 115,800 shares during the period. Finally, Ameriprise Financial Inc. acquired a new position in shares of Kornit Digital during the second quarter worth $801,000. 27.45% of the stock is owned by institutional investors and hedge funds.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.
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