Kornit Digital (NASDAQ:KRNT) PT Raised to $26.00 at Barclays

Kornit Digital (NASDAQ:KRNT) had its target price raised by Barclays from $21.00 to $26.00 in a report issued on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

Other analysts have also recently issued research reports about the company. Craig Hallum increased their target price on Kornit Digital from $23.00 to $27.00 and gave the company a buy rating in a research report on Wednesday, September 11th. Morgan Stanley increased their target price on Kornit Digital from $20.00 to $26.00 and gave the company an overweight rating in a research report on Friday, September 13th. StockNews.com raised Kornit Digital from a sell rating to a hold rating in a research report on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $27.00 price target on shares of Kornit Digital in a research report on Thursday, September 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kornit Digital has an average rating of Moderate Buy and an average price target of $26.50.

Kornit Digital Stock Performance

Shares of NASDAQ KRNT opened at $26.31 on Tuesday. The business’s 50 day moving average price is $20.20 and its 200-day moving average price is $17.20. Kornit Digital has a fifty-two week low of $13.29 and a fifty-two week high of $26.64. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -21.57 and a beta of 1.92.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. The firm had revenue of $48.62 million for the quarter, compared to the consensus estimate of $50.24 million. During the same period in the prior year, the business posted ($0.28) earnings per share. The company’s revenue for the quarter was down 13.5% on a year-over-year basis. Sell-side analysts predict that Kornit Digital will post -0.28 earnings per share for the current year.

Hedge Funds Weigh In On Kornit Digital

A number of institutional investors have recently modified their holdings of the stock. Chicago Capital LLC increased its stake in shares of Kornit Digital by 14.9% in the 2nd quarter. Chicago Capital LLC now owns 2,857,604 shares of the industrial products company’s stock valued at $41,835,000 after purchasing an additional 370,962 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its stake in Kornit Digital by 5.7% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,060,575 shares of the industrial products company’s stock worth $30,167,000 after buying an additional 111,971 shares in the last quarter. Wasatch Advisors LP increased its stake in Kornit Digital by 6.7% during the 1st quarter. Wasatch Advisors LP now owns 1,810,302 shares of the industrial products company’s stock worth $32,803,000 after buying an additional 114,372 shares in the last quarter. Stephens Investment Management Group LLC increased its stake in Kornit Digital by 23.8% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,466,159 shares of the industrial products company’s stock worth $28,092,000 after buying an additional 282,241 shares in the last quarter. Finally, William Blair Investment Management LLC increased its stake in Kornit Digital by 6.0% during the 2nd quarter. William Blair Investment Management LLC now owns 987,863 shares of the industrial products company’s stock worth $14,462,000 after buying an additional 56,157 shares in the last quarter. 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.