Kornit Digital (NASDAQ:KRNT) Sets New 12-Month High at $34.00

Shares of Kornit Digital Ltd (NASDAQ:KRNT) hit a new 52-week high during trading on Wednesday . The stock traded as high as $34.00 and last traded at $33.59, with a volume of 126573 shares traded. The stock had previously closed at $33.48.

Several analysts have recently commented on the stock. Stifel Nicolaus set a $35.00 price objective on shares of Kornit Digital and gave the stock a “buy” rating in a research report on Wednesday, August 7th. BidaskClub raised shares of Kornit Digital from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 27th. Zacks Investment Research raised shares of Kornit Digital from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 24th. ValuEngine downgraded shares of Kornit Digital from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, TheStreet raised shares of Kornit Digital from a “c+” rating to a “b” rating in a research report on Wednesday, August 7th. Two investment 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 stock. The company has an average rating of “Buy” and a consensus target price of $29.00.

The company has a market cap of $1.31 billion, a price-to-earnings ratio of 139.96 and a beta of 1.10. The company has a current ratio of 7.23, a quick ratio of 6.35 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $31.15 and its 200 day moving average price is $29.11.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Kornit Digital had a return on equity of 3.04% and a net margin of 5.69%. The firm had revenue of $43.89 million during the quarter, compared to the consensus estimate of $45.91 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. Kornit Digital’s revenue for the quarter was up 22.3% on a year-over-year basis. Analysts forecast that Kornit Digital Ltd will post 0.3 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of KRNT. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Kornit Digital by 29.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,272 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 520 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in Kornit Digital by 42.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,351 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 703 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in Kornit Digital during the 2nd quarter valued at $103,000. WINTON GROUP Ltd bought a new position in Kornit Digital during the 2nd quarter valued at $207,000. Finally, LPL Financial LLC bought a new position in Kornit Digital during the 2nd quarter valued at $238,000. Institutional investors and hedge funds own 96.31% of the company’s stock.

Kornit Digital Company Profile (NASDAQ:KRNT)

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.

Recommended Story: What are no-load funds?

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