Kornit Digital (NASDAQ:KRNT) Raised to Strong-Buy at Cantor Fitzgerald

Kornit Digital (NASDAQ:KRNT) was upgraded by investment analysts at Cantor Fitzgerald to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

KRNT has been the topic of a number of other reports. Morgan Stanley increased their target price on shares of Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Craig Hallum boosted their price objective on shares of Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC raised their target price on shares of Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Kornit Digital Stock Down 0.5 %

Shares of Kornit Digital stock opened at $24.83 on Thursday. The business has a 50-day moving average price of $29.46 and a 200 day moving average price of $26.82. Kornit Digital has a fifty-two week low of $13.59 and a fifty-two week high of $34.28. The firm has a market cap of $1.18 billion, a P/E ratio of -70.94 and a beta of 2.02.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. As a group, equities research analysts anticipate that Kornit Digital will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Kornit Digital

Several hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in shares of Kornit Digital during the fourth quarter valued at approximately $399,000. Castleark Management LLC acquired a new stake in shares of Kornit Digital in the fourth quarter worth $4,200,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Kornit Digital by 11.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 115,695 shares of the industrial products company’s stock valued at $3,581,000 after acquiring an additional 11,496 shares in the last quarter. Shellback Capital LP acquired a new position in shares of Kornit Digital in the 4th quarter valued at about $319,000. Finally, Pathstone Holdings LLC lifted its position in shares of Kornit Digital by 0.8% in the fourth quarter. Pathstone Holdings LLC now owns 859,668 shares of the industrial products company’s stock worth $26,607,000 after purchasing an additional 6,503 shares in the last quarter. Institutional investors and hedge funds 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.