3D Systems Corp. Given New $61.00 Price Target at Piper Jaffray Cos. (DDD)
Equities researchers at Piper Jaffray Cos. lifted their price objective on shares of 3D Systems Corp. (NYSE:DDD) from $52.00 to $61.00 in a research report issued on Thursday, Stock Ratings Network reports. The firm currently has a “hold” rating on the stock. Piper Jaffray Cos.’s price objective would suggest a potential upside of 10.41% from the company’s current price.
The analysts wrote, “Based on results from our Q3 3D industry survey, we believe demand tracked ahead of plan for 3D Systems resellers and that the company will report impressive September quarter results. We observed record feedback across system, consumable and service segments, along with impressive growth projections for 2014. More specifically, resellers indicated particularly strong demand for ProJet systems, as well a material uptick in consumable sales. We continue to believe the 3D printing industry remains one of the best secular growth stories in the market, capable of 20-25% growth over the next several years. As 3D Systems continues to expand their portfolio across healthcare, consumer and software verticals, we believe the company is likely to see above market growth. As such, we are reiterating our Overweight rating and raising our PT to $61 from $52.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of 3D Systems Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, October 1st. They now have a $55.00 price target on the stock. Separately, analysts at William Blair reiterated an “underperform” rating on shares of 3D Systems Corp. in a research note to investors on Monday, September 30th. Finally, analysts at Bank of America Corp. initiated coverage on shares of 3D Systems Corp. in a research note to investors on Monday, September 23rd. They set a “buy” rating and a $65.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $57.73.
Shares of 3D Systems Corp. (NYSE:DDD) traded up 1.19% on Thursday, hitting $55.91. 1,255,866 shares of the company’s stock traded hands. 3D Systems Corp. has a one year low of $23.04 and a one year high of $56.23. The stock’s 50-day moving average is $53.18 and its 200-day moving average is $46.11. The company has a market cap of $5.681 billion and a price-to-earnings ratio of 127.60.
3D Systems Corp. (NYSE:DDD) last announced its earnings results on Tuesday, July 30th. The company reported $0.20 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.24 by $0.04. The company had revenue of $120.50 million for the quarter, compared to the consensus estimate of $114.63 million. During the same quarter last year, the company posted $0.27 earnings per share. 3D Systems Corp.’s revenue was up 44.5% compared to the same quarter last year. On average, analysts predict that 3D Systems Corp. will post $1.01 earnings per share for the current fiscal year.
3D Systems Corporation (NYSE:DDD) is a holding company that operates through subsidiaries in the United States, Europe and the Asia-Pacific region.
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