Kornit Digital (KRNT) Upgraded by Citigroup to Buy

Kornit Digital (NASDAQ:KRNT) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Tuesday, January 23rd, Marketbeat reports. The firm presently has a $19.00 price objective on the industrial products company’s stock. Citigroup’s target price suggests a potential upside of 39.50% from the stock’s previous close.

KRNT has been the topic of several other research reports. Barclays set a $19.00 price target on Kornit Digital and gave the company a “buy” rating in a research note on Wednesday, January 10th. Stifel Nicolaus decreased their price target on Kornit Digital from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 27th. BidaskClub lowered Kornit Digital from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 9th. Craig Hallum decreased their price target on Kornit Digital from $20.00 to $26.00 in a research note on Thursday, September 28th. Finally, Needham & Company LLC decreased their price target on Kornit Digital from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $19.67.

Shares of Kornit Digital (KRNT) traded down $0.18 during mid-day trading on Tuesday, reaching $13.62. The company had a trading volume of 976,802 shares, compared to its average volume of 378,860. The firm has a market cap of $459.62 and a price-to-earnings ratio of -1,362.00. Kornit Digital has a twelve month low of $11.70 and a twelve month high of $23.15.

Institutional investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Kornit Digital in the fourth quarter worth $103,000. Van ECK Associates Corp boosted its stake in Kornit Digital by 49.4% in the second quarter. Van ECK Associates Corp now owns 7,813 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 2,583 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Kornit Digital by 1,540.0% in the second quarter. Wells Fargo & Company MN now owns 8,200 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 7,700 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in Kornit Digital in the second quarter worth $198,000. Finally, ETF Managers Group LLC acquired a new position in Kornit Digital in the second quarter worth $211,000. 82.02% of the stock is currently owned by institutional investors.

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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)

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