Kornit Digital (NASDAQ:KRNT) PT Raised to $47.00 at Stifel Nicolaus

Kornit Digital (NASDAQ:KRNT) had its price target lifted by research analysts at Stifel Nicolaus from $40.00 to $47.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 7.67% from the stock’s current price.

Several other brokerages also recently issued reports on KRNT. William Blair restated an “outperform” rating on shares of Kornit Digital in a research note on Monday, November 18th. ValuEngine cut Kornit Digital from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Needham & Company LLC cut their price target on Kornit Digital from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday. Finally, BidaskClub raised Kornit Digital from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $46.00.

Shares of NASDAQ KRNT traded down $0.29 during mid-day trading on Wednesday, reaching $43.65. The company had a trading volume of 1,818 shares, compared to its average volume of 341,257. The stock has a fifty day moving average of $39.39 and a two-hundred day moving average of $33.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.83 and a current ratio of 7.72. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 218.55 and a beta of 1.05. Kornit Digital has a 12-month low of $20.74 and a 12-month high of $45.21.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Tuesday, February 11th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $48.65 million during the quarter, compared to analyst estimates of $48.49 million. Kornit Digital had a net margin of 4.75% and a return on equity of 2.15%. Sell-side analysts forecast that Kornit Digital will post 0.23 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lenox Wealth Advisors LLC acquired a new stake in shares of Kornit Digital during the 4th quarter worth $42,000. IFP Advisors Inc acquired a new stake in Kornit Digital in the fourth quarter valued at about $47,000. Tower Research Capital LLC TRC acquired a new stake in Kornit Digital in the third quarter valued at about $50,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in 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 last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in 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 last quarter. 96.31% of the stock is currently owned by institutional investors.

Kornit Digital Company Profile

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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