Needham analyst James Ricchiuti reiterated a Buy rating on Kornit Digital (KRNT – Research Report) today and set a price target of $30.00.
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James Ricchiuti has given his Buy rating due to a combination of factors that suggest Kornit Digital is poised for growth. The company is expected to experience increasing demand for its Apollo high-volume printing system over the next 18 months, which has significantly expanded its presence in the bulk apparel printing market.
Additionally, the all-inclusive click (AIC) print-as-a-service model is anticipated to further drive demand by lowering entry barriers for traditional screen printers to adopt Kornit’s technology. Assuming stable macroeconomic conditions, Ricchiuti believes that Kornit Digital can achieve accelerating growth through this year and the next. Although the potential impact of on-shoring due to tariffs has not been factored into the current analysis, it could serve as a long-term benefit for the company.