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Barclays Thinks Kornit Digital’s Stock is Going to Recover

In a report issued on July 6, Tavy Rosner from Barclays maintained a Buy rating on Kornit Digital (KRNTResearch Report), with a price target of $48.00. The company’s shares closed last Friday at $26.14, close to its 52-week low of $20.40.

Rosner has an average return of 49.3% when recommending Kornit Digital.

According to TipRanks.com, Rosner is ranked #982 out of 7920 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Kornit Digital with a $59.83 average price target, a 126.2% upside from current levels. In a report issued on July 6, Needham also maintained a Buy rating on the stock with a $38.00 price target.

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Based on Kornit Digital’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $83.29 million and GAAP net loss of $5.2 million. In comparison, last year the company earned revenue of $66.12 million and had a net profit of $5.1 million.

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Kornit Digital Ltd. engages in the development, manufacture and marketing of industrial and commercial printing solutions for the garment, apparel and textile industries. It offers printing solutions for apparel, polyester, sportswear, beachwear, accessories, paradigm shirt, textiles, curtains, cushions and couches. The company was founded by Ofer Ben-Zur on January 16, 2002 and is headquartered in Rosh HaAyin, Israel.

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