Kornit Digital Ltd. (KRNT) – What Are Brokerages Saying About This Stock?

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) have been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $21.50.

KRNT has been the topic of several analyst reports. Zacks Research raised shares of Kornit Digital from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. Morgan Stanley raised their target price on Kornit Digital from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Weiss Ratings upgraded Kornit Digital from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. Finally, Needham & Company LLC boosted their price target on shares of Kornit Digital from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th.

Insider Buying and Selling

In other news, CTO Yaaqov Mann sold 1,665 shares of the firm’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $17.03, for a total value of $28,354.95. Following the completion of the transaction, the chief technology officer owned 46,722 shares in the company, valued at $795,675.66. This trade represents a 3.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 98,731 shares of company stock valued at $1,720,268. Insiders own 0.21% of the company’s stock.

Institutional Trading of Kornit Digital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC lifted its position in shares of Kornit Digital by 145.8% during the 3rd quarter. Signaturefd LLC now owns 2,974 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 1,764 shares during the period. Amundi bought a new position in shares of Kornit Digital in the first quarter worth $214,000. Public Employees Retirement System of Ohio bought a new position in shares of Kornit Digital in the second quarter worth $224,000. Engineers Gate Manager LP acquired a new position in Kornit Digital in the second quarter valued at about $300,000. Finally, Lone Peak Global Investors LLC raised its stake in Kornit Digital by 2.6% in the second quarter. Lone Peak Global Investors LLC now owns 36,069 shares of the industrial products company’s stock valued at $586,000 after purchasing an additional 908 shares in the last quarter. Institutional investors own 92.76% of the company’s stock.

Kornit Digital Price Performance

KRNT opened at $18.15 on Thursday. The stock has a market cap of $779.91 million, a P/E ratio of -37.81 and a beta of 1.85. Kornit Digital has a 12 month low of $11.93 and a 12 month high of $19.78. The stock’s 50 day moving average price is $16.73 and its 200 day moving average price is $15.74.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Wednesday, August 12th. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. The company had revenue of $55.32 million for the quarter, compared to analysts’ expectations of $52.80 million. Kornit Digital had a negative net margin of 9.42% and a negative return on equity of 1.00%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS. Equities analysts anticipate that Kornit Digital will post -0.23 EPS for the current year.

Kornit Digital Company Profile

Kornit Digital Ltd. (NASDAQ: KRNT) develops, manufactures and sells digital printing technologies for the textile, apparel and related industries. Its solutions are designed to support on-demand, short-run and mass-customized production while reducing the need for traditional screen-printing processes.

The company’s product portfolio includes direct-to-garment printers for cotton and other finished apparel, direct-to-fabric systems for textiles, and digital printing solutions for home décor and related applications.