Kornit Digital Ltd (NASDAQ:KRNT) Given Average Rating of “Buy” by Brokerages

Shares of Kornit Digital Ltd (NASDAQ:KRNT) have earned an average rating of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $31.33.

A number of research firms have recently issued reports on KRNT. ValuEngine cut shares of Kornit Digital from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. TheStreet upgraded shares of Kornit Digital from a “c+” rating to a “b” rating in a research note on Wednesday, August 7th. Zacks Investment Research upgraded shares of Kornit Digital from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 24th. Stifel Nicolaus set a $35.00 target price on shares of Kornit Digital and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, BidaskClub upgraded shares of Kornit Digital from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 27th.

KRNT traded down $0.92 during midday trading on Friday, reaching $32.35. 243,716 shares of the company’s stock were exchanged, compared to its average volume of 184,727. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 134.79 and a beta of 1.10. The company has a quick ratio of 6.35, a current ratio of 7.23 and a debt-to-equity ratio of 0.04. Kornit Digital has a one year low of $16.10 and a one year high of $33.87. The business has a 50-day simple moving average of $30.79 and a two-hundred day simple moving average of $28.95.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Kornit Digital had a net margin of 5.69% and a return on equity of 3.04%. The firm had revenue of $43.89 million during the quarter, compared to the consensus estimate of $45.91 million. During the same quarter last year, the firm posted $0.09 EPS. The business’s revenue was up 22.3% on a year-over-year basis. As a group, research analysts anticipate that Kornit Digital will post 0.3 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of KRNT. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Kornit Digital by 15.2% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,954,254 shares of the industrial products company’s stock valued at $93,532,000 after purchasing an additional 390,395 shares in the last quarter. Wasatch Advisors Inc. increased its holdings in shares of Kornit Digital by 268.2% in the second quarter. Wasatch Advisors Inc. now owns 2,943,063 shares of the industrial products company’s stock valued at $93,177,000 after purchasing an additional 2,143,724 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Kornit Digital by 108.3% in the second quarter. BlackRock Inc. now owns 1,249,328 shares of the industrial products company’s stock valued at $39,555,000 after purchasing an additional 649,662 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Kornit Digital by 30.6% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 981,593 shares of the industrial products company’s stock valued at $31,077,000 after purchasing an additional 230,000 shares in the last quarter. Finally, Waddell & Reed Financial Inc. increased its holdings in shares of Kornit Digital by 32.5% in the second quarter. Waddell & Reed Financial Inc. now owns 733,145 shares of the industrial products company’s stock valued at $23,211,000 after purchasing an additional 179,660 shares in the last quarter. Institutional investors own 96.06% 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. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.

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