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Why Kornit Digital (KRNT) Could Be Positioned for a Surge

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Kornit Digital Ltd. (KRNT - Free Report) is a global leader in digital textile printing technology that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on KRNT’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Kornit Digital could be a solid choice for investors.

Current Quarter Estimates for KRNT

In the past 30 days, two estimates have gone higher for Kornit Digital while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 16 cents a share 30 days ago, to a loss of 9 cents today, a move of 43.8%.

Current Year Estimates for KRNT

Meanwhile, Kornit Digital current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 24 cents per share 30 days ago to a loss of 2 cents per share today, an increase of 91.6%.

Bottom Line

The stock has also started to move higher lately, adding 57.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1(Strong Buy) Rank stocks here.

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