Needham & Company Maintains a 'Buy' on 3D Systems (DDD); Adjusting Estimates for Recent Offering

June 25, 2012 7:35 AM EDT
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Price: $16.98 +2.66%

Rating Summary:
    8 Buy, 13 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
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Needham & Company maintains a 'Buy' on 3D Systems (NYSE: DDD) price target of $36.00 (from $33.00).

Analyst, James Ricchiuti, said, "We adjust our EPS estimates to reflect DDD’s recent follow-on offering (Needham & Company was lead manager for the offering). Shares of DDD, along with competitor Stratasys (Nasdaq: SSYS)(Hold), have been strong performers over the last 3 months, up 37% and 26%, respectively, compared with a 6% decline for the Nasdaq Composite. We attribute the strength in the group to increased recognition of both the strong secular growth drivers in the 3D printing/rapid prototyping industry and of the dominant position enjoyed by the two leading players."

FY12 EPS estimate lowered from $1.12 to $1.09 and FY13 raised from $1.27 to $1.29.

For an analyst ratings summary and ratings history on 3D Systems click here. For more ratings news on 3D Systems click here.

Shares of 3D Systems closed at $31.67 yesterday.

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