Why Kornit Digital's Stock Is Trading Higher Today

Kornit Digital KRNT shares are trading higher on Wednesday following first-quarter earnings release.

Needham maintained a Buy rating and raised the stock's price target $31 to $46 following first-quarter sales beat.

Kornit Digital offers digital printing solutions for the printed textile industry. It manufactures and markets industrial and commercial printing solutions for the garment, apparel and fabric industry. The group's business is operated throughout the U.S, Europe and Asia Pacific with a wide network of distribution channels around the globe.

Kornit Digital shares are trading up 27.63% at $45.54 at time of publication on Wednesday. The stock has a 52-week high of $62.02 and a 52-week low of $32.