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KRNT

Kornit Digital

$26.53

-1.72 (-6.09%)

, AMZN

Amazon.com

$1,931.63

-3.01 (-0.16%)

10:35
05/07/19
05/07
10:35
05/07/19
10:35

Kornit Digital drops 10% after Spruce Point issues short report

Shares of Kornit Digital (KRNT) have moved lower in morning trading after short-focused research firm Spruce Point issued a new short report on the company, stating that it sees 75-85% downside risk. Spruce Point contends that "investors have not looked carefully" at the increased risks from its two biggest customers, namely Amazon (AMZN) and Cimpress (CMPR). Kornit also has "highly questionable earnings quality highlighted by myriad accounting irregularities" and the company's CFO previously "oversaw a prior accounting debacle," according to Spruce Point, which issued a "Strong Sell" opinion in its report. In morning trading, Kornit shares are down 10%, or $2.80, to $25.38. Reference Link

KRNT

Kornit Digital

$26.53

-1.72 (-6.09%)

AMZN

Amazon.com

$1,931.63

-3.01 (-0.16%)

CMPR

Cimpress

$86.43

-0.195 (-0.23%)

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KRNT Kornit Digital
$26.53

-1.72 (-6.09%)

05/07/19
05/07/19
NO CHANGE

Kornit Digital named a strong sell at Spruce Point
04/04/19
NEED
04/04/19
NO CHANGE
Target $30
NEED
Buy
Kornit Digital price target raised to $30 from $24 at Needham
Needham analyst James Ricchiuti raised his price target on Kornit Digital to $30 after attending the company's customer event at its headquarters where it showcased its "new disruptive Poly Pro print technology and the new mass production Atlas direct-to-garment system." The analyst says Kornit Digital's presentation has raised his optimism about his forecast of 25% revenue growth in 2019 as well as the management's scaling expectations to achieve $500M in revenue by the end of 2023. Ricchiuti claims that Kornit Digital is one of his "more compelling growth stories" and keeps his Buy rating on the shares.
12/18/18
WBLR
12/18/18
NO CHANGE
WBLR
Amazon close to getting permit for more Kornit printers, says William Blair
William Blair analyst Brian Drab has learned that the Pennsylvania Department of Environmental Protection is close to issuing a permit to Amazon (AMZN) that would allow the company to expand textile printing capacity in its Norristown, Pennsylvania, facility by 50%. Specifically, the permit would allow Amazon to place a total of 72 textile printers in the facility, up from the limit of 48 associated with the original permit, Drab tells investors in a research note. The PDEP expects to issue the expansion permit by February 15, 2019, says the analyst, who originally broke the news regarding Amazon's application for this permit in August. Drab says the "timing and significance" of the permit gives him increased confidence in his 2019 forecast for Kornit Digital (KRNT). He believes the Norristown facility currently operates about 40 Kornit printers. As such, the permit creates the opportunity for the facility to take about 30 additional machines. Drab's 2019 forecast for Kornit's consolidated revenue includes the sale of 30 machines to Amazon. The permit also gives increased confidence in the long-term outlook for Kornit because it is affirmation that Amazon is committed to utilizing Kornit technology in its textile printing operations, says the analyst. He keeps an Outperform rating on Kornit Digital, which closed yesterday down 29c to $17.53.
08/28/18
WBLR
08/28/18
NO CHANGE
WBLR
Outperform
Amazon upgrading printers to Kornit's new HD technology, says William Blair
Based on information from the Pennsylvania Department of Environmental Protection, William Blair analyst Brian Drab believes Amazon (AMZN) is upgrading Kornit printers that were already installed in its Pennsylvania textile printing facility to Kornit's new high definition print engine and also laying the groundwork to expand the facility from a maximum of 48 machines to 72 machines. In a research note titled "As Far as We Can Tell, Amazon Really Likes Kornit," Drab says Kornit's valuation is attractive given his expectation for about 20% revenue growth and margin driving greater than 30% earnings growth going forward. He points out that Amazon recently applied for two new air-quality permits and also submitted an application to expand capacity at its Pennsylvania facility from 48 printers to 72 printers. This is clearly a step toward upgrading the existing fleet of machines in the Pennsylvania facility to the HD technology Kornit introduced in early 2018, the analyst contends. He believes Amazon's e application for 72 printers is likely to be approved given it is essentially an addendum to previous permits. Drab estimates that an incremental 24 printers would likely generate about $10M in revenue for Kornit. He keeps an Outperform rating on the shares.
AMZN Amazon.com
$1,931.63

-3.01 (-0.16%)

05/02/19
05/02/19
INITIATION
Target $65

Outperform
Wedbush bullish on Uber, initiates coverage with an Outperform
As previously reported, Wedbush analyst Ygal Arounian started coverage of Uber (UBER) with an Outperform and $65 price target. The analyst notes that the ridesharing industry has become one of the most transformational growth sectors of the global consumer market over the past five years, with Uber establishing itself as the clear number 1 player and paving a similar road to what Amazon (AMZN) did to transform retail/e-commerce and Facebook (FB) did for social media. The brand loyalty of Uber is hard to dispute as the company continues to attract drivers and consumers "illustrating an impressive formula" to go after a $5.7T opportunity globally on transportation, which swells to $7T-$8T when including third-party food delivery and freight/logistics, he contends.
05/03/19
JEFF
05/03/19
NO CHANGE
Target $85
JEFF
Buy
Planet Fitness price target raised to $85 from $75 at Jefferies
Jefferies analyst Randal Konik raised his price target for Planet Fitness (PLNT) to $85 from $75 saying the company reported "great" Q1 results with comps and margins ahead of consensus. However, the shares are trading lower due to elevated expectations, Konik tells investors in a research note. He continues to believe Planet Fitness' investments in marketing, expanding affinity programs, increasing Black Card penetration, and membership growth resemble a business model similar to that of Amazon.com (AMZN). The analyst sees upside in the shares and reiterates a Buy rating on the name.
05/07/19
BMOC
05/07/19
NO CHANGE
Target $170
BMOC
Outperform
Disney price target raised to $170 from $140 at BMO Capital
BMO Capital analyst Daniel Salmon raised his price target on Disney (DIS) to $170 and kept his Outperform rating ahead of its Q2 results, saying he expects an "upbeat quarter" and positive commentary around June quarter's main events of Endgame box office and the first Edge of Galaxy opening. The analyst also believes that the company will join Netflix (NFLX) and Amazon (AMZN) at the helm of global streaming while noting that its Star Wars themed lands its theme parks and the launch of Disney+ will materialize as catalysts for this year.
05/03/19
BERN
05/03/19
UPGRADE
BERN
Outperform
Walmart upgraded to Outperform from Market Perform at Bernstein
Bernstein analyst Brandon Fletcher upgraded Walmart (WMT) to Outperform from Market Perform, saying that while he thinks Walmart has not been able to return to its full potential for decades, but that the fully realized vision of what Walmart could be is "so fantastic that, if it even accidentally leans in the right direction," he thinks it could create an outsized investment return over several years. Fletcher tells investors in a research note that he thinks Walmart is the only full-scale challenger to Amazon (AMZN), with sizable investments on Price & Convenience and Price & Assortment.
CMPR Cimpress
$86.43

-0.195 (-0.23%)

01/31/19
RHCO
01/31/19
DOWNGRADE
Target $86
RHCO
Sell
Cimpress downgraded to Sell from Hold at SunTrust
SunTrust analyst Youssef Squali downgraded Cimpress to Sell and lowered his price target to $86 from $136. The analyst says the company's Q2 saw "material deceleration in growth and deterioration in margins across virtually all segments". Squali adds that while the management has acknowledged the company's poor performance and identified the drivers of weakness, he expects the solutions to take some time to implement, anticipating Cimpress' performance to "remain muted at best".
02/01/19
BRRR
02/01/19
NO CHANGE
BRRR
Cimpress price target lowered to $100 from $135 at Barrington
Barrington analyst Kevin Steinke maintained an Outperform rating on Cimpress, saying the market opportunity in the name was still intact, but the analyst lowered his price target on shares to $100 from $135 after weaker than expected Q2 revenues and reduced Vistaprint revenue growth outlook. He views Vistaprint's reduced outlook as "largely a conscious management decision to slow growth while operational issues are addressed" and is "encouraged by continued sales growth for small business products, indicating that demand remains solid." After Thursday's 28% pullback, Steinke sees Cimpress as attractive for patient investors.
03/11/19
AGIS
03/11/19
UPGRADE
AGIS
Hold
Cimpress upgraded to Hold from Sell at Aegis
01/31/19
RHCO
01/31/19
DOWNGRADE
RHCO
Sell
Cimpress downgraded to Sell from Hold at SunTrust

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BB

BlackBerry

$8.05

-0.26 (-3.13%)

13:45
05/23/19
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13:45
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13:45
Options
BlackBerry call volume above normal and directionally bullish »

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13:45
05/23/19
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13:45
General news
FX Action: USD-JPY »

FX Action: USD-JPY fell…

FL

Foot Locker

$52.92

-1.28 (-2.36%)

13:38
05/23/19
05/23
13:38
05/23/19
13:38
Earnings
Notable companies reporting before tomorrow's open »

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INTU

Intuit

$241.74

-5.78 (-2.34%)

, ADSK

Autodesk

$167.63

-6.48 (-3.72%)

13:38
05/23/19
05/23
13:38
05/23/19
13:38
Earnings
Notable companies reporting after market close »

Notable companies…

INTU

Intuit

$241.74

-5.78 (-2.34%)

ADSK

Autodesk

$167.63

-6.48 (-3.72%)

ROST

Ross Stores

$93.98

-0.62 (-0.66%)

HPQ

HP Inc.

$19.12

-0.17 (-0.88%)

SPLK

Splunk

$129.20

-6.6 (-4.86%)

HPE

HP Enterprise

$14.31

-0.23 (-1.58%)

DXC

DXC Technology

$52.22

-2.28 (-4.18%)

DECK

Deckers Brands

$149.16

-1.05 (-0.70%)

LGF.A

Lionsgate

$15.83

-0.19 (-1.19%)

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AXP

American Express

$118.06

-1.96 (-1.63%)

13:35
05/23/19
05/23
13:35
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13:35
Options
American Express put volume heavy and directionally bearish »

Bearish flow noted in…

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KTOS

Kratos Defense

$20.70

0.28 (1.37%)

13:25
05/23/19
05/23
13:25
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13:25
Options
Kratos Defense call volume above normal and directionally bullish »

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13:25
05/23/19
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13:25
General news
Treasury's $11 B 10-year TIPS sale was surprisingly solid »

Treasury's $11 B…

ACAD

Acadia

$24.82

-0.29 (-1.15%)

, ALKS

Alkermes

$24.22

-0.83 (-3.31%)

13:25
05/23/19
05/23
13:25
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13:25
Conference/Events
JPMorgan biotech analysts to hold an analyst/industry conference call »

Biotech Analysts Fye,…

ACAD

Acadia

$24.82

-0.29 (-1.15%)

ALKS

Alkermes

$24.22

-0.83 (-3.31%)

ITCI

Intra-Cellular

$13.34

0.26 (1.99%)

NBIX

Neurocrine

$78.45

-1.42 (-1.78%)

SAGE

Sage Therapeutics

$174.50

-0.5 (-0.29%)

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ICPT

Intercept

$85.25

-0.98 (-1.14%)

, RHHBY

Roche

$0.00

(0.00%)

13:21
05/23/19
05/23
13:21
05/23/19
13:21
Recommendations
Intercept, Roche analyst commentary at RBC Capital »

RBC sees…

ICPT

Intercept

$85.25

-0.98 (-1.14%)

RHHBY

Roche

$0.00

(0.00%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
05/23/19
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
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13:16
Technical Analysis
NYSE market internals summary »

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TME

Tencent Music

$13.72

-0.335 (-2.38%)

13:15
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13:15
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13:15
Options
Tencent put volume heavy and directionally bearish »

Bearish flow noted in…

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GOOGL

Alphabet Class A

$1,135.50

-17.61 (-1.53%)

, GOOG

Alphabet

$1,130.85

-19.65 (-1.71%)

13:13
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13:13
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13:13
Hot Stocks
Google announces integration with food delivery service providers »

In a post to a corporate…

GOOGL

Alphabet Class A

$1,135.50

-17.61 (-1.53%)

GOOG

Alphabet

$1,130.85

-19.65 (-1.71%)

UBER

Uber

$40.51

-0.58 (-1.41%)

GRUB

GrubHub

$65.02

-3.52 (-5.14%)

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VRNT

Verint

$56.01

-5.2 (-8.50%)

13:11
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Hot Stocks
Verint says short seller report 'inaccurate and deliberately misleading' »

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13:08
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13:08
General news
10-Yr TIPS Auction Coupon Rate data reported »

10-Yr TIPS Auction Coupon…

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13:08
General news
10-Yr TIPS Auction Total Amount data reported »

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M

Macy's

$21.36

-0.45 (-2.06%)

13:05
05/23/19
05/23
13:05
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13:05
Options
Macy's call volume above normal and directionally bullish »

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WEBK

Wellesley Bancorp

$35.05

(0.00%)

13:02
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05/23
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13:02
Hot Stocks
Wellesley Bancorp raises quarterly cash dividend 9.1% to 6c per share »

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JYNT

Joint Corp.

$16.00

-1.5 (-8.57%)

13:02
05/23/19
05/23
13:02
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13:02
Recommendations
Joint Corp. analyst commentary at DA Davidson »

Joint Corp. weakness on…

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AMZN

Amazon.com

$1,812.11

-45.63 (-2.46%)

12:57
05/23/19
05/23
12:57
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12:57
Periodicals
Amazon developing wrist device that can read human emotions, Bloomberg says »

Amazon is working on a…

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JYNT

Joint Corp.

$16.00

-1.5 (-8.57%)

12:56
05/23/19
05/23
12:56
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12:56
Periodicals
Joint Corp. mentioned cautiously by Seeking Alpha contributor »

In a short report…

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ESV

Ensco Rowan

$8.98

-0.87 (-8.83%)

12:55
05/23/19
05/23
12:55
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12:55
Options
Ensco put volume heavy and directionally bearish »

Bearish flow noted in…

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12:55
05/23/19
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12:55
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12:55
Conference/Events
Federal Reserve Bank of Dallas to hold a conference »

Atlanta Federal Reserve…

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05/23
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12:55
Conference/Events
JPMorgan biotech analysts to hold an analyst/industry conference call »

Biotech Analysts Fye,…

INTU

Intuit

$241.77

-5.75 (-2.32%)

12:50
05/23/19
05/23
12:50
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12:50
Hot Stocks
Senators ask Intuit about reports of misleading taxpayers on free options »

Senator Elizabeth Warren…

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