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

Kornit Digital (NASDAQ:KRNT) had its price objective upped by Morgan Stanley from $20.00 to $26.00 in a report published on Friday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the stock. Craig Hallum lifted their price objective on shares of Kornit Digital from $23.00 to $27.00 and gave the company a buy rating in a report on Wednesday, September 11th. StockNews.com upgraded shares of Kornit Digital from a sell rating to a hold rating in a report on Thursday, August 8th. Finally, Needham & Company LLC reiterated a buy rating and set a $27.00 price target on shares of Kornit Digital in a report on Thursday, September 12th.

Kornit Digital Stock Performance

Kornit Digital stock opened at $22.71 on Friday. The company’s 50 day simple moving average is $17.51 and its 200-day simple moving average is $16.47. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -18.61 and a beta of 1.90. Kornit Digital has a 1 year low of $13.29 and a 1 year high of $24.08.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $48.62 million during the quarter, compared to analysts’ expectations of $50.24 million. Kornit Digital had a negative net margin of 23.63% and a negative return on equity of 3.22%. The business’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.28) earnings per share. Equities analysts expect that Kornit Digital will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRNT. BNP Paribas Financial Markets boosted its holdings in shares of Kornit Digital by 5,353.7% in the 4th quarter. BNP Paribas Financial Markets now owns 73,788 shares of the industrial products company’s stock valued at $1,414,000 after buying an additional 72,435 shares in the last quarter. Stephens Investment Management Group LLC boosted its holdings in shares of Kornit Digital by 23.8% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,466,159 shares of the industrial products company’s stock valued at $28,092,000 after buying an additional 282,241 shares in the last quarter. Moody National Bank Trust Division boosted its holdings in shares of Kornit Digital by 7.9% in the 1st quarter. Moody National Bank Trust Division now owns 42,981 shares of the industrial products company’s stock valued at $779,000 after buying an additional 3,162 shares in the last quarter. Silverberg Bernstein Capital Management LLC boosted its holdings in shares of Kornit Digital by 1.3% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 117,250 shares of the industrial products company’s stock valued at $2,125,000 after buying an additional 1,550 shares in the last quarter. Finally, Thompson Investment Management Inc. boosted its holdings in shares of Kornit Digital by 13.6% in the 1st quarter. Thompson Investment Management Inc. now owns 523,287 shares of the industrial products company’s stock valued at $9,482,000 after buying an additional 62,607 shares in the last quarter. Institutional investors and hedge funds 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.