James Ricchiuti, an analyst from Needham, maintained the Buy rating on Kornit Digital (KRNT – Research Report). The associated price target is $34.00.
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James Ricchiuti has given his Buy rating due to a combination of factors that highlight Kornit Digital’s positive outlook. The company has shown a significant operational and financial recovery in 2024, despite facing a challenging macroeconomic environment. Notably, the fourth quarter marked a return to year-over-year revenue growth for the first time in over two years, with a 7% increase that met market expectations.
Ricchiuti points out that Kornit Digital’s product portfolio is more robust and differentiated than ever, with successful market reception for their Apollo product and upgrades to the Atlas fleet with MAX and MAX PLUS technology. Additionally, the company’s roll-to-roll business is expected to perform better in the coming year. The introduction of a recurring revenue model, the All-Inclusive-Click (AIC), is anticipated to boost market adoption further. Kornit Digital’s guidance for the first quarter also surpassed expectations, projecting a revenue increase between 4% and 13%, which fosters optimism about the company’s recovery and future growth.
According to TipRanks, Ricchiuti is a 5-star analyst with an average return of 10.3% and a 51.42% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as 3D Systems, TTM Technologies, and Teledyne Technologies.
In another report released yesterday, Craig-Hallum also maintained a Buy rating on the stock with a $0.00 price target.