Kornit Digital Ltd. (KRNT): Down -4% Today, Time To Sell This Stock?

The biggest losers of the session on the Wall Street include Kornit Digital Ltd. (NASDAQ:KRNT), which fell -1.39 points or -4% to trade at $33.36 as last check. The stock closed last session at $34.75 and sets an active trading volume day with a reported 130522 contracts so far this session. KRNT shares had a relatively better volume day versus average trading capacity of 212.61 thousand shares, but with a 39.47 million float and a 4.98% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for KRNT stock indicates that the average analyst price target is $34.33 per share. This means the stock has a potential increase of 2.91% from where the KRNT share price has been trading recently which is between $33.7 and $34.92.

During the recent trading session for Kornit Digital Ltd. (NASDAQ:KRNT), the company witnessed their stock rise $0.81 over a week and tumble down $-0.88 from the price 20 days ago. When compared to their established 52-week high of $35.73, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/11/19. The recent low of $16.1 stood for a -6.63% since 12/21/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.1 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Kornit Digital Ltd., the two-week RSI stands at 49.98. This figure suggests that KRNT stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current KRNT readings is similarly very revealing as it has a stochastic reading of 84.79% at this stage. This figure means that KRNT share price today is being oversold.

Technical chart claims that Kornit Digital Ltd. (KRNT) would settle between $35.21/share to $35.68/share level. However, if the stock price goes below the $33.99 mark, then the market for Kornit Digital Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $33.24 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.85. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Needham lifted target price for shares of KRNT but were stick to Buy recommendation for the stock in their opinion released on November 19. The price target has been raised from $34 to $35. Needham analysts again handed out a Buy recommendation to Kornit Digital Ltd. (NASDAQ:KRNT) stock but they lifted target price for the shares in a flash note issued to investors on June 18. The target price has been raised from $32 to $34. Analysts at Needham are sticking to their Buy stance. However, on April 04, they lifted price target for these shares to $30 from $24.

KRNT equity has an average rating of 1.75, with the figure leaning towards a bullish end. 7 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 6 analysts rated Kornit Digital Ltd. (NASDAQ:KRNT) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, KRNT stock price is currently trading at 38.61X forward 12-month Consensus EPS estimates, and its P/E ratio is 165.5 while for the average stock in the same group, the multiple is 28.1. Kornit Digital Ltd. current P/B ratio of 4.3 means it is trading at a discount against its industry’s 4.7.

Kornit Digital Ltd. (KRNT)’s current-quarter revenues are projected to climb by nearly 28.9% to hit $48.7 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 25.2% from $142370 to a noteworthy $178310. At the other end of the current quarter income statement, Kornit Digital Ltd. is expected to see its adjusted earnings surge by roughly 125% to hit $0.18 per share. For the fiscal year, KRNT’s earnings are projected to climb by roughly 2.7% to hit $0.38 per share.