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Kornit Digital’s Promising Outlook and Strategic Initiatives Justify Buy Rating Despite Q1 Miss

Kornit Digital’s Promising Outlook and Strategic Initiatives Justify Buy Rating Despite Q1 Miss

Analyst James Ricchiuti from Needham reiterated a Buy rating on Kornit Digital (KRNTResearch Report) and increased the price target to $30.00 from $28.00.

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James Ricchiuti has given his Buy rating due to a combination of factors including Kornit Digital’s promising outlook and strategic initiatives. Despite Q1 results slightly missing Street expectations, the company demonstrated a healthy demand driven by its innovative Apollo high-volume production system and the All-Inclusive Click program.
Ricchiuti notes that Kornit Digital’s introduction of the Annual Recurring Revenue model, which yielded $14.5 million in Q1, is a positive indicator of future growth. Furthermore, the company’s guidance for Q2 revenue growth, although slightly below consensus, remains strong. These elements contribute to Ricchiuti’s confidence in maintaining a Buy rating for Kornit Digital’s stock.

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