3D Systems Corp. Now Covered by Analysts at FBR Capital Markets (DDD)
Equities researchers at FBR Capital Markets assumed coverage on shares of 3D Systems Corp. (NYSE:DDD) in a research report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $85.00 price target on the stock. FBR Capital Markets’ target price would suggest a potential upside of 10.55% from the stock’s previous close.
The analysts wrote, “3D Systems is a leading 3D content-to-print solutions provider, including 3D printers, materials, and on-demand parts, as well as software tools, such as scan to CAD and inspection. No doubt, the company has had its share of controversies, and valuation is by no means cheap. However, we like 3D Systems’ solid and diversified portfolio of patented technologies (SLA, SLS, SLM, MJP, and others), proprietary materials, and software solutions that should not only help address rising customer demand but also drive penetration and the adoption rate of 3D printing as a whole. Despite some concerns regarding potential new competition from lower-priced SLA and SLS printers as some patents expire in 2014, we believe 3D Systems should continue to deliver high growth rates for the next several years as management’s initiatives in aggressively expanding applications beyond prototyping into production parts and in the consumer markets start bearing fruit. We also expect management to continue aggressively adding to its printer, material, software, and service portfolio through smart bolt-on acquisitions. We think a burgeoning line-up of new products, many of which are expected to be announced over the next few weeks, and new industry partnerships could potentially provide catalysts for the stock over the near term.”
Several other analysts have also recently commented on the stock. Analysts at Bank of America Corp. raised their price target on shares of 3D Systems Corp. from $69.00 to $90.00 in a research note to investors on Monday, November 18th. They now have a “buy” rating 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 Tuesday, November 12th. Finally, analysts at Brean Capital reiterated a “buy” rating on shares of 3D Systems Corp. in a research note to investors on Wednesday, November 6th. They now have a $77.00 price target on the stock, up previously from $70.00. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $65.50.
Shares of 3D Systems Corp. (NYSE:DDD) remained flat at $76.89 during trading on Tuesday. The stock had a trading volume of 2,386,445 shares. 3D Systems Corp. has a 52-week low of $27.88 and a 52-week high of $84.85. The stock has a 50-day moving average of $67.01 and a 200-day moving average of $53.45. The company has a market cap of $7.903 billion and a price-to-earnings ratio of 166.43.
3D Systems Corp. (NYSE:DDD) last announced its earnings results on Tuesday, October 29th. The company reported $0.26 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.26. The company had revenue of $135.70 million for the quarter, compared to the consensus estimate of $132.04 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s quarterly revenue was up 49.9% on a year-over-year basis. On average, analysts predict that 3D Systems Corp. will post $0.96 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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