Kornit Digital Ltd. (KRNT) Bullish Stance Reiterated at Needham & Company Following Q2 EPS 'Beat'

Needham & Company analyst James Ricchiuti reiterated a Buy rating and $18 price target on Kornit Digital Ltd. (NASDAQ: KRNT) following Q2 EPS that was above the consensus added by lower OpEx.

Ricchiuti commented, "KRNT after the close posted stronger than expected Q2 EPS, benefiting from lower op-exp. Rev increased 35% y/o/y, above the midpoint of guidance. KRNT's high-throughput direct to garment (DTG) products continue to drive growth. We have increased confidence that the new Allegro roll-to-roll (R2R) printer can emerge as another growth catalyst over the next year. We are nudging up our 2015 and 2016 EPS estimates even as operating expense ramps as KRNT continues to scale the business. We believe KRNT can grow in excess of 30% annually over the next several years, with steadily improving profitability."

The firm is maintaining Q3 non-GAAP EPS estimate at $0.08, with 2015 non-GAAP EPS now estimated at $0.28 vs. prior $0.25 est. They are raising 2016 non-GAAP EPS estimate to $0.38 from $0.37.

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 $14.97 yesterday.

You May Also Be Interested In

• Bernstein SocGen Group Reiterates Outperform Rating on Hermes International (RMS:FP) (HESAY) after cautious commentary
• RBC Capital Starts Opus Genetics (IRD) at Outperform
• Lake Street Starts Vivani Medical, Inc. (VANI) at Buy