Kornit Digital Surpasses Analyst Target: What’s Next for Investors?
In recent trading, shares of Kornit Digital Ltd (Symbol: KRNT) have climbed above the average analyst 12-month target price of $32.40, currently trading at $32.50/share. When a stock reaches its target set by analysts, they typically face two options: either downgrade the valuation or adjust their target price higher. The response from analysts often hinges on the underlying business developments that may have influenced the stock’s upward movement. If positive factors are at play, it could signal a time for a reevaluation of the target price.
According to Zacks coverage, there are five different analyst targets contributing to the average for Kornit Digital Ltd. However, it’s important to note that the average is merely a mathematical figure. Some analysts have lower price targets, such as one predicting a price of $26.00. Conversely, another analyst has set a target as high as $39.00, resulting in a standard deviation of $4.669.
The primary reason for considering the average KRNT price target is to leverage the “wisdom of crowds”, resulting from the combined insights of various analysts rather than relying on a single expert opinion. As KRNT now trades above the average target price of $32.40/share, it invites investors to evaluate whether this level is merely a waypoint or if the valuation has become stretched, indicating a time to reconsider investment positions. Below is a breakdown of the current views from analysts covering Kornit Digital Ltd:
| Recent KRNT Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 3 | 2 | 2 | 2 |
| Buy ratings: | 2 | 2 | 2 | 2 |
| Hold ratings: | 1 | 1 | 1 | 1 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.58 | 1.7 | 1.7 | 1.7 |
The average rating presented in the last row of the table above ranges from 1 to 5, where 1 signifies a Strong Buy and 5 denotes a Strong Sell. This article utilized data provided by Zacks Investment Research via Quandl.com. For the latest Zacks research report on KRNT — FREE.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
