Kornit Digital (KRNT): Acquisition Accelerated Revenue Opportunities - Needham

Needham & Company analyst, James Ricchiuti, noted that on Friday, Kornit Digital Ltd. (NASDAQ: KRNT) announced the acquisition of the digital DTG assets of SPSI, Inc., a N. American distributor. The acquisition puts KRNT in close contact with a large base of existing and potential customers who rely mainly on analog screen printing methods. While the acquisition is unlikely to impact its near-term financials, it can enhance KRNT’s’ L-T competitive position and growth prospects in a key geographic region. Similarly, while the appointment of a new CTO announced a week ago is unlikely to impact the near-term outlook, it adds crucial technology development skills in the next phase of the industry’s growth.

No change to Buy rating or price target of $18.00

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 $10.05 yesterday.

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