Kornit Digital (KRNT) Given a $25.00 Price Target at Craig Hallum

Kornit Digital (NASDAQ:KRNT) received a $25.00 price target from investment analysts at Craig Hallum in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the industrial products company’s stock. Craig Hallum’s target price would suggest a potential upside of 12.41% from the company’s previous close.

A number of other equities research analysts have also issued reports on KRNT. TheStreet raised Kornit Digital from a “c+” rating to a “b” rating in a research report on Wednesday, November 14th. ValuEngine lowered Kornit Digital from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 21st. Zacks Investment Research raised Kornit Digital from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Tuesday, January 15th. Finally, BidaskClub raised Kornit Digital from a “hold” rating to a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Kornit Digital presently has an average rating of “Buy” and an average price target of $22.86.

KRNT opened at $22.24 on Thursday. Kornit Digital has a one year low of $11.70 and a one year high of $23.90. The firm has a market capitalization of $733.64 million, a PE ratio of 106.60 and a beta of 0.92.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Tuesday, February 12th. The industrial products company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.06). Kornit Digital had a return on equity of 4.53% and a net margin of 3.78%. The firm had revenue of $37.80 million during the quarter, compared to the consensus estimate of $38.11 million. During the same period in the prior year, the firm posted $0.04 EPS. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. On average, research analysts forecast that Kornit Digital will post 0.27 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. CWM LLC raised its position in shares of Kornit Digital by 36.6% during the third quarter. CWM LLC now owns 247,727 shares of the industrial products company’s stock worth $5,425,000 after purchasing an additional 66,325 shares during the period. Marshall Wace LLP acquired a new stake in shares of Kornit Digital during the third quarter worth $339,000. LA Financiere DE L Echiquier raised its position in shares of Kornit Digital by 20.8% during the third quarter. LA Financiere DE L Echiquier now owns 627,944 shares of the industrial products company’s stock worth $13,752,000 after purchasing an additional 107,944 shares during the period. BlackRock Inc. raised its position in Kornit Digital by 6.3% during the third quarter. BlackRock Inc. now owns 410,780 shares of the industrial products company’s stock valued at $8,996,000 after buying an additional 24,282 shares during the period. Finally, ETF Managers Group LLC raised its position in Kornit Digital by 4.8% during the fourth quarter. ETF Managers Group LLC now owns 30,835 shares of the industrial products company’s stock valued at $577,000 after buying an additional 1,411 shares during the period. 87.65% of the stock is currently owned by institutional investors.

About Kornit Digital

Kornit Digital Ltd. develops, manufactures, and markets industrial digital printing technologies for the garment, apparel, and textile industries. The company focuses on the direct-to-garment and roll-to-roll segments of the printed textile industry. Its solutions include digital printing systems, ink and other consumables, associated software, and value added services.

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