Kornit Digital (Nasdaq: KRNT): Great IPO Growth Play

I am watching $KRNT for a move above $15, an area of resistance that the current price action has been coiling under. Company fundamentals for this Israeli IPO in the 3D printing space support the move.

Kornit is a profitable company with great growth numbers. EPS grew 175% this year on $67M in sales (vs. $50 million last year), and earnings are slated to grow another 38% in 2015. The company's 3-year sales growth average is 33% per year. Kornit has no debt along with robust current and quick ratios. Returns on assets, equity and investment are all positive.

The stock is covered by Stifel, Needham, Citi, Canaccord, and Barclays, all of whom give the company either a "buy" or an "overweight" rating. The consensus price target is $18.60, or nearly 30% from current levels.

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Disclosure: I am long KRNT in my private portfolio. The stock is not optionable so we the Dr. Stoxx Options Letter is not invested in KRNT.

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