Kornit Digital (NASDAQ:KRNT) Upgraded to “Strong-Buy” at Cantor Fitzgerald

Kornit Digital (NASDAQ:KRNT) was upgraded by analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley raised their price target on shares of Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Needham & Company LLC raised their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Craig Hallum raised their price target on shares of Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.00.

Kornit Digital Stock Performance

NASDAQ:KRNT opened at $24.76 on Thursday. The stock has a market capitalization of $1.18 billion, a P/E ratio of -70.74 and a beta of 2.02. The company has a 50 day moving average price of $29.31 and a 200 day moving average price of $26.81. Kornit Digital has a fifty-two week low of $13.59 and a fifty-two week high of $34.28.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. Research analysts forecast that Kornit Digital will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kornit Digital

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Kornit Digital in the 4th quarter valued at $399,000. Castleark Management LLC acquired a new stake in shares of Kornit Digital in the 4th quarter valued at $4,200,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Kornit Digital by 11.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 115,695 shares of the industrial products company’s stock valued at $3,581,000 after purchasing an additional 11,496 shares in the last quarter. Shellback Capital LP acquired a new stake in Kornit Digital during the 4th quarter worth $319,000. Finally, Pathstone Holdings LLC raised its stake in Kornit Digital by 0.8% during the 4th quarter. Pathstone Holdings LLC now owns 859,668 shares of the industrial products company’s stock worth $26,607,000 after acquiring an additional 6,503 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors and hedge funds.

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 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.