Fintel reports that on August 10, 2023, Needham maintained coverage of Kornit Digital (NASDAQ:KRNT) with a Buy recommendation.
Analyst Price Forecast Suggests 36.12% Upside
As of August 2, 2023, the average one-year price target for Kornit Digital is 30.26. The forecasts range from a low of 21.21 to a high of $38.85. The average price target represents an increase of 36.12% from its latest reported closing price of 22.23.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Kornit Digital is 284MM, an increase of 21.48%. The projected annual non-GAAP EPS is -0.02.
What is the Fund Sentiment?
There are 243 funds or institutions reporting positions in Kornit Digital. This is a decrease of 15 owner(s) or 5.81% in the last quarter. Average portfolio weight of all funds dedicated to KRNT is 0.17%, a decrease of 3.23%. Total shares owned by institutions decreased in the last three months by 8.44% to 50,483K shares. 
The put/call ratio of KRNT is 1.42, indicating a bearish outlook.
What are Other Shareholders Doing?
Artisan Partners Limited Partnership holds 4,248K shares representing 8.48% ownership of the company. In it's prior filing, the firm reported owning 4,397K shares, representing a decrease of 3.50%. The firm decreased its portfolio allocation in KRNT by 24.24% over the last quarter.
Senvest Management holds 4,135K shares representing 8.25% ownership of the company. In it's prior filing, the firm reported owning 4,145K shares, representing a decrease of 0.24%. The firm decreased its portfolio allocation in KRNT by 10.17% over the last quarter.
Granahan Investment Management holds 3,519K shares representing 7.02% ownership of the company. In it's prior filing, the firm reported owning 3,531K shares, representing a decrease of 0.35%. The firm decreased its portfolio allocation in KRNT by 16.42% over the last quarter.
Wasatch Advisors holds 3,403K shares representing 6.79% ownership of the company. In it's prior filing, the firm reported owning 4,692K shares, representing a decrease of 37.89%. The firm decreased its portfolio allocation in KRNT by 43.47% over the last quarter.
ARTJX - Artisan International Small-Mid Fund Investor Shares holds 2,375K shares representing 4.74% ownership of the company. In it's prior filing, the firm reported owning 2,478K shares, representing a decrease of 4.32%. The firm decreased its portfolio allocation in KRNT by 23.71% over the last quarter.
Kornit Digital Background Information
(This description is provided by the company.)
Kornit Digital develops, manufactures and markets industrial digital printing technologies for the garment, apparel and textile industries. Kornit delivers complete solutions, including digital printing systems, inks, consumables, software and after-sales support. Leading the digital direct-to-garment and direct-to-fabric printing market with its exclusive eco-friendly NeoPigment printing process, Kornit caters directly to the changing needs of the textile printing value chain. Kornit's technology enables innovative business models based on web-to-print, on-demand and mass customization concepts. With its immense experience in the direct-to-garment market, Kornit also offers a revolutionary approach to the roll-to-roll textile printing industry: Digitally printing with a single ink set onto multiple types of fabric with no additional finishing processes. Founded in 2002, Kornit Digital is a global company, headquartered in Israel with offices in the USA, Europe and Asia Pacific, and serves customers in more than 100 countries worldwide.
Additional reading:
- Kornit Digital Reports Second Quarter 2023 Results
- ©2023 Kornit Digital. All rights reserved. KORNIT DIGITAL (NASDAQ: KRNT) Second Quarter 2023 Earnings Conference Call Supporting Slides August 9, 2023 ON TODAY’S CALL Ronen Samuel CEO Lauri Hanover CFO Amir Shaked Mandel Andrew Backman EVP Corp Dev G
- KORNIT DIGITAL Ltd. 12 Ha’Amal Street, Park Afek, Rosh Ha’Ayin 4824096 Israel July 20, 2023 NOTICE OF 2023 ANNUAL GENERAL MEETING OF SHAREHOLDERS TO BE HELD ON AUGUST 28, 2023
- KORNIT DIGITAL LTD. PROXY FOR THE 2023 ANNUAL GENERAL MEETING OF SHAREHOLDERS TO BE HELD ON AUGUST 28, 2023 THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
- Kornit Digital Reports First Quarter 2023 Results
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
