Kornit Digital set for best day as brokerages lift PT on positive H2 outlook

Kornit Digital

20/05/2020 15:02

** Shares of Israel-based textile printer maker  KRNT.O 
jump as much as ~29.5% to $46.20, hitting a record high; stock
on track for best day on record
    ** Co sees atleast 30% sequential growth in Q2 with high
single-digit YoY revenue growth in H2 and positive operating
profit for the entire year
    ** Atleast 5 of 7 brokerages raise PT, Barclays hikes PT to
$47 from $40, highest on the Street - Refinitv data
    ** Stifel ("buy"; PT:$45) says KRNT is poised for sustained
growth over the next few years; believes e-commerce and the
shift to on-demand (vs traditional retail inventory management)
are key drivers to adoption of digital textile printing
    ** KRNT posts Q1 loss of $0.22/shr vs Refinitv est. for loss
of $0.09/shr; rev of $26.2 mln also misses est. of $26.9 mln
 urn:newsml:reuters.com:*:nASA00QWZ
    ** Co misses EPS est for the seventh straight qtr impacted
by efforts to contain COVID-19; rev fell 32.1% due to delayed
orders caused by the health crisis  urn:newsml:reuters.com:*:nGNX794Kmd
    ** 5 brokerages rate the stock "buy" or higher, 2 "hold";
median PT is $40
    ** Stock up 32.48% this year

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))