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

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

KRNT has been the topic of a number of other reports. Craig Hallum raised their target price on Kornit Digital from $23.00 to $27.00 and gave the company a buy rating in a research report on Wednesday, September 11th. StockNews.com upgraded 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 issued a $27.00 price objective on shares of Kornit Digital in a report on Thursday.

Kornit Digital Stock Up 0.5 %

NASDAQ:KRNT opened at $23.00 on Friday. Kornit Digital has a 52 week low of $13.29 and a 52 week high of $24.08. The stock has a market capitalization of $1.09 billion, a PE ratio of -18.85 and a beta of 1.90. The stock’s 50-day moving average price is $17.37 and its 200-day moving average price is $16.44.

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

Institutional Investors Weigh In On Kornit Digital

Several institutional investors have recently bought and sold shares of KRNT. Headlands Technologies LLC boosted its holdings in Kornit Digital by 97.9% in the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock worth $38,000 after buying an additional 1,027 shares during the last quarter. nVerses Capital LLC purchased a new position in Kornit Digital in the 2nd quarter worth approximately $40,000. Signaturefd LLC lifted its stake in Kornit Digital by 29.4% in the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 779 shares in the last quarter. Privium Fund Management B.V. purchased a new position in Kornit Digital in the 2nd quarter worth approximately $159,000. Finally, Bank of New York Mellon Corp lifted its stake in Kornit Digital by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock worth $235,000 after purchasing an additional 1,184 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors and hedge funds.

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.