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Needham Reaffirms Their Buy Rating on Kornit Digital (KRNT)

Needham analyst James Ricchiuti maintained a Buy rating on Kornit Digital (KRNTResearch Report) today and set a price target of $40.00. The company’s shares closed yesterday at $23.11.

Ricchiuti covers the Technology sector, focusing on stocks such as Coherent Corp, Benchmark Electronics, and Cognex. According to TipRanks, Ricchiuti has an average return of 13.2% and a 56.42% success rate on recommended stocks.

Currently, the analyst consensus on Kornit Digital is a Moderate Buy with an average price target of $49.00, representing an 112.03% upside. In a report released yesterday, Citigroup also maintained a Buy rating on the stock with a $42.00 price target.

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KRNT market cap is currently $1.13B and has a P/E ratio of -58.86.

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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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