Long Position on KRNT @ $29.25 on 7/22/2019 (Momentum)

Kornit Digital Ltd. (KRNT) develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry.

The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services.

It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.

The company serves decorators, online businesses, brand owners, and contract printers. 

On May 13th, Kornit reported breakeven results for the 1st Quarter March 2019 on revenue of $38.2 million. The consensus earnings estimate was $0.02 per share on revenue of $38.0 million. Revenue grew 22.6% on a year-over-year basis.

The company said it expects second quarter revenue of $44.0 million to $48.0 million. The current consensus revenue estimate is $43.8 million for the quarter ending June 30, 2019. The results are expected August 12th.

Shares are heading higher in an upward trading channel. They are currently at the lower boundary of the said channel. Stock's 50-day moving average, shown in brown, support the trading channel.

Entry Point: $29.25

Stop Loss: $27.50

Trading Range: $16.10 - $32.20

Target Price: $32.18

Updates

9/12/2019 9:47:04 AM

KRNT closed at $31.55

Position closed on 9/12/2019 at price of $31.55 with a 7.86% gain in 52 days.

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