Kornit Digital (NASDAQ:KRNT) Price Target Raised to $34.00 at Needham & Company LLC

Kornit Digital (NASDAQ:KRNT) had its price objective raised by Needham & Company LLC from $31.00 to $34.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Craig Hallum raised their price objective on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley increased their price target on shares of Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Finally, Cantor Fitzgerald began coverage on shares of Kornit Digital in a research report on Tuesday, November 26th. They set an “overweight” rating and a $39.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kornit Digital currently has an average rating of “Moderate Buy” and an average price target of $34.00.

Kornit Digital Stock Performance

NASDAQ:KRNT opened at $29.16 on Wednesday. Kornit Digital has a one year low of $13.59 and a one year high of $34.28. The stock has a market cap of $1.39 billion, a PE ratio of -33.14 and a beta of 2.02. The stock has a 50 day moving average price of $30.67 and a 200 day moving average price of $26.06.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. As a group, analysts predict that Kornit Digital will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kornit Digital

Hedge funds have recently made changes to their positions in the stock. Trust Point Inc. boosted its position in shares of Kornit Digital by 4.6% during the third quarter. Trust Point Inc. now owns 17,868 shares of the industrial products company’s stock worth $462,000 after buying an additional 785 shares during the period. Chicago Capital LLC lifted its stake in Kornit Digital by 8.1% during the 3rd quarter. Chicago Capital LLC now owns 3,089,263 shares of the industrial products company’s stock worth $79,811,000 after acquiring an additional 231,659 shares in the last quarter. Signaturefd LLC boosted its holdings in Kornit Digital by 69.7% during the 3rd quarter. Signaturefd LLC now owns 5,818 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 2,390 shares during the period. Assenagon Asset Management S.A. grew its position in Kornit Digital by 238.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 90,282 shares of the industrial products company’s stock valued at $2,332,000 after acquiring an additional 63,629 shares in the last quarter. Finally, Tectonic Advisors LLC purchased a new stake in Kornit Digital during the third quarter worth about $705,000. Hedge funds and other institutional investors own 92.76% of the company’s stock.

About Kornit Digital

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.