Kornit Digital (KRNT): Online Apparel Driving Investment Cycle - Needham

November 29, 2016 7:10 AM EST
Get Alerts KRNT Hot Sheet
Price: $17.75 +4.41%

Rating Summary:
    5 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Needham & Company analyst, James Ricchiuti, reiterated his Buy rating on shares of Kornit Digital Ltd. (NASDAQ: KRNT) after the company hosted a call with analysts to discuss its latest investor presentation, which is available in the investor relations section of its website.

After taking a deeper dive into the presentation, the analyst came away more optimistic about the company’s growth prospects over the next 1-2 years. In particular, the accelerating growth of the on-line apparel market, together with the shift toward smaller garment production runs, increased personalization and big brands’ direct-toconsumer (DTC) strategies, should drive strong equipment and consumables demand over the next several years.

The analyst also views valuation as attractive with the stock trading at less than 18x 2017 non-GAAP EPS. No change to the $15 price target.

For an analyst ratings summary and ratings history on Kornit Digital Ltd. click here. For more ratings news on Kornit Digital Ltd. click here.

Shares of Kornit Digital Ltd. closed at $11.45 yesterday.

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