Kornit Digital (NASDAQ:KRNT) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Kornit Digital (NASDAQ:KRNT) from a hold rating to a buy rating in a report published on Friday morning, ValuEngine reports.

A number of other research firms also recently weighed in on KRNT. TheStreet upgraded Kornit Digital from a c+ rating to a b rating in a research note on Wednesday, August 7th. BidaskClub raised Kornit Digital from a buy rating to a strong-buy rating in a report on Saturday, July 27th. Zacks Investment Research raised Kornit Digital from a strong sell rating to a hold rating in a report on Saturday, August 24th. Finally, Stifel Nicolaus set a $35.00 price objective on Kornit Digital and gave the stock a buy rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $29.25.

Shares of Kornit Digital stock traded down $0.45 during trading on Friday, reaching $32.68. The company’s stock had a trading volume of 56,333 shares, compared to its average volume of 160,820. 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 12-month low of $16.10 and a 12-month high of $35.73. The company has a market capitalization of $1.38 billion, a P/E ratio of 137.17 and a beta of 1.11. The business has a 50 day moving average price of $32.94 and a 200-day moving average price of $29.94.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Monday, November 18th. The industrial products company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.09). Kornit Digital had a net margin of 5.69% and a return on equity of 3.04%. The business had revenue of $49.70 million during the quarter, compared to analysts’ expectations of $48.68 million. During the same quarter last year, the firm earned $0.13 earnings per share. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. Research analysts predict that Kornit Digital will post 0.3 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Kornit Digital by 29.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,272 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 520 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Kornit Digital by 42.7% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,351 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 703 shares during the period. ETF Managers Group LLC grew its position in Kornit Digital by 4.3% during the second quarter. ETF Managers Group LLC now owns 31,151 shares of the industrial products company’s stock valued at $938,000 after acquiring an additional 1,279 shares during the period. UBS Asset Management Americas Inc. grew its position in Kornit Digital by 13.0% during the second quarter. UBS Asset Management Americas Inc. now owns 13,900 shares of the industrial products company’s stock valued at $440,000 after acquiring an additional 1,600 shares during the period. Finally, Tower Research Capital LLC TRC purchased a new stake in Kornit Digital during the third quarter valued at about $50,000. 96.78% of the stock is owned by institutional investors.

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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