Barclays Believes Kornit Digital (NASDAQ: KRNT) Won’t Stop Here

Barclays analyst Tavy Rosner maintained a Buy rating on Kornit Digital (KRNTResearch Report) yesterday and set a price target of $47.00. The company’s shares closed last Wednesday at $47.74, close to its 52-week high of $48.07.

According to TipRanks.com, Rosner is a 4-star analyst with an average return of 6.7% and a 59.4% success rate. Rosner covers the Technology sector, focusing on stocks such as Ituran Location And Control, Magic Software Enterprises, and Sapiens International.

Currently, the analyst consensus on Kornit Digital is a Moderate Buy with an average price target of $41.60, which is a 0.2% upside from current levels. In a report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $45.00 price target.

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Based on Kornit Digital’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $53.24 million and net profit of $9.34 million. In comparison, last year the company earned revenue of $37.79 million and had a net profit of $6.98 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.