Zacks Investment Research Upgrades Materialise NV (MTLS) to Buy
Materialise NV (NASDAQ:MTLS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $15.00 price target on the software maker’s stock. Zacks Investment Research‘s price objective points to a potential upside of 14.33% from the company’s current price.
According to Zacks, “Materialise NV is a provider of Additive Manufacturing (AM) software solutions and sophisticated 3D printing services in a wide variety of industries, including healthcare, automotive, aerospace, art and design and consumer products. The Company specializes in preparation of 3D prototypes for manufactures, software development, biomedical research, and online services. It is also engaged in the development of solutions for orthopedics, biomedical software and engineering, and printing of cardiovascular models. Materialise NV is headquartered in Leuven, Belgium. “
A number of other brokerages also recently issued reports on MTLS. BidaskClub raised Materialise NV from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Piper Jaffray Companies boosted their price objective on Materialise NV to $18.50 and gave the company an “overweight” rating in a research note on Monday, July 31st. TheStreet raised Materialise NV from a “d+” rating to a “c” rating in a research note on Monday, June 26th. Finally, Credit Suisse Group boosted their price objective on Materialise NV from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, August 11th. Five investment analysts have rated the stock with a buy rating, Materialise NV presently has a consensus rating of “Buy” and a consensus price target of $14.38.
Materialise NV (MTLS) traded down 0.91% during mid-day trading on Thursday, reaching $13.12. 15,857 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $13.55 and its 200-day moving average price is $11.64. Materialise NV has a 52 week low of $6.28 and a 52 week high of $15.74. The company’s market capitalization is $620.90 million.
Materialise NV (NASDAQ:MTLS) last announced its quarterly earnings data on Tuesday, August 8th. The software maker reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.01. The business had revenue of $33.61 million during the quarter, compared to analyst estimates of $31.90 million. Materialise NV had a negative net margin of 0.99% and a negative return on equity of 1.59%. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) earnings per share. On average, equities research analysts expect that Materialise NV will post ($0.02) earnings per share for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of MTLS. First Mercantile Trust Co. acquired a new position in Materialise NV during the 2nd quarter worth approximately $106,000. First Manhattan Co. acquired a new position in Materialise NV during the 2nd quarter worth approximately $111,000. Symmetry Peak Management LLC acquired a new position in Materialise NV during the 2nd quarter worth approximately $119,000. Tiedemann Wealth Management LLC acquired a new position in Materialise NV during the 1st quarter worth approximately $178,000. Finally, Gilder Gagnon Howe & Co. LLC acquired a new position in Materialise NV during the 2nd quarter worth approximately $223,000. 10.86% of the stock is currently owned by institutional investors and hedge funds.
Materialise NV Company Profile
Materialise NV is a Belgium-based company engaged in the software industry. The Company is a provider of additive manufacturing software and of three dimensional (3D) printing services. Materialise NV incorporates of 3D printing experience into a range of software solution and 3D printing services, through which the Company seeks to form the backbone of the 3D printing industry.
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