Piper Jaffray Companies Reaffirms Buy Rating for Materialise NV (MTLS)
Materialise NV (NASDAQ:MTLS)‘s stock had its “buy” rating reissued by stock analysts at Piper Jaffray Companies in a research note issued on Friday. They currently have a $20.00 target price on the software maker’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 30.59% from the company’s previous close.
A number of other research firms have also recently weighed in on MTLS. Zacks Investment Research cut shares of Materialise NV from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. BidaskClub raised shares of Materialise NV from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. TheStreet raised shares of Materialise NV from a “d+” rating to a “c” rating in a research report on Monday, June 26th. Finally, Credit Suisse Group increased their price objective on shares of Materialise NV from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, August 11th. Five equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target of $14.75.
Shares of Materialise NV (MTLS) traded up 5.32% on Friday, hitting $16.13. The company’s stock had a trading volume of 68,101 shares. The stock has a 50-day moving average price of $14.09 and a 200 day moving average price of $12.64. The firm’s market cap is $763.35 million. Materialise NV has a one year low of $6.28 and a one year high of $16.50.
Materialise NV (NASDAQ:MTLS) last announced its quarterly earnings results on Tuesday, August 8th. The software maker reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). The firm had revenue of $33.61 million for the quarter, compared to analyst estimates of $31.90 million. Materialise NV had a negative return on equity of 1.59% and a negative net margin of 0.99%. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) EPS. Equities research analysts predict that Materialise NV will post ($0.01) EPS for the current year.
Several large investors have recently bought and sold shares of the stock. LA Financiere DE L Echiquier purchased a new position in Materialise NV in the 2nd quarter valued at approximately $3,724,000. Royce & Associates LP boosted its position in Materialise NV by 122.8% in the 1st quarter. Royce & Associates LP now owns 439,000 shares of the software maker’s stock valued at $3,995,000 after buying an additional 242,000 shares during the period. Columbus Circle Investors purchased a new position in Materialise NV in the 2nd quarter valued at approximately $2,014,000. ARK Investment Management LLC boosted its position in Materialise NV by 62.3% in the 2nd quarter. ARK Investment Management LLC now owns 269,748 shares of the software maker’s stock valued at $3,202,000 after buying an additional 103,542 shares during the period. Finally, UBS Group AG boosted its position in Materialise NV by 11,860.8% in the 1st quarter. UBS Group AG now owns 78,702 shares of the software maker’s stock valued at $716,000 after buying an additional 78,044 shares during the period. 10.86% of the stock is owned by hedge funds and other institutional investors.
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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