Market cap of Kornit Digital Ltd. [KRNT] reaches 1.18B – now what?


Kornit Digital Ltd. [NASDAQ: KRNT] closed the trading session at $23.46 on 07/06/22. The day’s price range saw the stock hit a low of $20.40, while the highest price level was $24.36. The company report on July 5, 2022 that Kornit Digital Announces Preliminary Second Quarter 2022 Financial Results.

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Kornit Digital Ltd. (“Kornit” or “The Company”) (Nasdaq: KRNT), a worldwide market leader in sustainable, on-demand, digital fashionX and textile production technologies, announced today preliminary results for the second quarter ended June 30, 2022. The information in this press release is approximate due to the preliminary nature of the announcement and remains subject to normal quarter-end closing review.

“The overall re-calibration of e-commerce growth, combined with macro headwinds which meaningfully accelerated in the last few weeks of the quarter, as well as delays in the completion of customer production facilities, resulted in a significantly slower pace of direct-to-garment (DTG) systems orders in the second quarter as compared to our prior expectations,” said Ronen Samuel, Chief Executive Officer of Kornit Digital.

The stocks have a year to date performance of -84.59 percent and weekly performance of -26.55 percent. The stock has been moved at -84.32 percent over the last six months. The stock has performed -42.26 percent around the most recent 30 days and changed -72.93 percent over the most recent 3-months.

If compared to the average trading volume of 713.18K shares, KRNT reached to a volume of 11789811 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Kornit Digital Ltd. [KRNT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for KRNT shares is $81.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on KRNT stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for Kornit Digital Ltd. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on July 06, 2022. While these analysts kept the previous recommendation, Craig Hallum dropped their target price from $54 to $26. The new note on the price target was released on July 06, 2022, representing the official price target for Kornit Digital Ltd. stock. Previously, the target price had yet another raise to $202, while Needham analysts kept a Buy rating on KRNT stock. On July 22, 2021, analysts increased their price target for KRNT shares from 125 to 142.

The Average True Range (ATR) for Kornit Digital Ltd. is set at 3.02, with the Price to Sales ratio for KRNT stock in the period of the last 12 months amounting to 3.49. The Price to Book ratio for the last quarter was 1.26, with the Price to Cash per share for the same quarter was set at 10.26.

KRNT stock trade performance evaluation

Kornit Digital Ltd. [KRNT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -26.55. With this latest performance, KRNT shares dropped by -42.26% in over the last four-week period, additionally sinking by -84.32% over the last 6 months – not to mention a drop of -81.62% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KRNT stock in for the last two-week period is set at 22.53, with the RSI for the last a single of trading hit 16.34, and the three-weeks RSI is set at 26.68 for Kornit Digital Ltd. [KRNT]. The present Moving Average for the last 50 days of trading for this stock 44.63, while it was recorded at 30.08 for the last single week of trading, and 102.74 for the last 200 days.

Kornit Digital Ltd. [KRNT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Kornit Digital Ltd. [KRNT] shares currently have an operating margin of -4.25 and a Gross Margin at +42.65. Kornit Digital Ltd.’s Net Margin is presently recorded at +5.23.

Return on Equity for this stock inclined to 2.16, with Return on Assets sitting at 1.86.

Kornit Digital Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.00 and a Current Ratio set at 8.90.

Earnings per share (EPS) analysis for Kornit Digital Ltd. [KRNT] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for KRNT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Kornit Digital Ltd. go to 13.10%.

Kornit Digital Ltd. [KRNT]: Insider Ownership positions

There are presently around $1,469 million, or 97.70% of KRNT stock, in the hands of institutional investors. The top three institutional holders of KRNT stocks are: WASATCH ADVISORS INC with ownership of 3,408,244, which is approximately -0.33% of the company’s market cap and around 0.64% of the total institutional ownership; AMERIPRISE FINANCIAL INC, holding 2,562,430 shares of the stock with an approximate value of $80.87 million in KRNT stocks shares; and ARTISAN PARTNERS LIMITED PARTNERSHIP, currently with $75.11 million in KRNT stock with ownership of nearly 39.877% of the company’s market capitalization.

Positions in Kornit Digital Ltd. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 147 institutional holders increased their position in Kornit Digital Ltd. [NASDAQ:KRNT] by around 5,449,639 shares. Additionally, 138 investors decreased positions by around 4,898,104 shares, while 30 investors held positions by with 36,188,395 shares. The mentioned changes placed institutional holdings at 46,536,138 shares, according to the latest SEC report filing. KRNT stock had 41 new institutional investments in for a total of 683,645 shares, while 58 institutional investors sold positions of 1,580,309 shares during the same period.