Canaccord Genuity reiterated their buy rating on shares of Kornit Digital Ltd. (NASDAQ:KRNT) in a research note released on Tuesday morning. The brokerage currently has a $24.00 price objective on the industrial products company’s stock.

A number of other analysts have also commented on the stock. BidaskClub lowered shares of Kornit Digital from a buy rating to a hold rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised shares of Kornit Digital from a sell rating to a hold rating in a research note on Wednesday, July 12th. Craig Hallum began coverage on shares of Kornit Digital in a research note on Tuesday, July 11th. They set a buy rating and a $26.00 price objective for the company. Barclays PLC upped their price objective on shares of Kornit Digital from $20.00 to $22.00 and gave the company an overweight rating in a research note on Wednesday, May 10th. Finally, Citigroup Inc. set a $22.00 price objective on shares of Kornit Digital and gave the company a buy rating in a research note on Tuesday, April 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Kornit Digital has a consensus rating of Buy and a consensus price target of $21.86.

Kornit Digital (NASDAQ:KRNT) traded down 0.30% during mid-day trading on Tuesday, hitting $16.85. 345,011 shares of the stock traded hands. The company’s market cap is $567.14 million. Kornit Digital has a 12-month low of $8.90 and a 12-month high of $23.15. The firm’s 50-day moving average is $20.02 and its 200-day moving average is $18.64.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. Kornit Digital had a negative net margin of 0.29% and a positive return on equity of 7.05%. The company had revenue of $28.59 million during the quarter, compared to analyst estimates of $29.81 million. During the same period in the prior year, the firm earned $0.02 earnings per share. The business’s quarterly revenue was up 19.4% on a year-over-year basis. Equities research analysts expect that Kornit Digital will post $0.41 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was originally published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this piece of content on another publication, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://theolympiareport.com/2017/08/12/kornit-digital-ltd-nasdaqkrnt-given-buy-rating-at-canaccord-genuity.html.

Hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC raised its stake in Kornit Digital by 91.7% in the second quarter. Citadel Advisors LLC now owns 279,167 shares of the industrial products company’s stock worth $5,402,000 after buying an additional 133,577 shares during the period. EAM Investors LLC raised its stake in Kornit Digital by 34.4% in the second quarter. EAM Investors LLC now owns 171,379 shares of the industrial products company’s stock worth $3,316,000 after buying an additional 43,857 shares during the period. Parametric Portfolio Associates LLC raised its stake in Kornit Digital by 97.4% in the second quarter. Parametric Portfolio Associates LLC now owns 78,516 shares of the industrial products company’s stock worth $1,519,000 after buying an additional 38,738 shares during the period. FMR LLC bought a new stake in Kornit Digital during the second quarter worth about $7,757,000. Finally, Northern Trust Corp raised its stake in Kornit Digital by 14.9% in the second quarter. Northern Trust Corp now owns 69,570 shares of the industrial products company’s stock worth $1,347,000 after buying an additional 9,044 shares during the period. 63.29% of the stock is owned by institutional investors.

About Kornit Digital

Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.

Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

Receive News & Ratings for Kornit Digital Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kornit Digital Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.