Needham & Company Maintains a 'Buy' on 3D Systems (DDD); Solid Q2 with Strong Top-Line Growth

July 27, 2012 10:13 AM EDT Send to a Friend
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Price: $35.15 -0.87%

Rating Summary:
    9 Buy, 12 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 18 | New: 41
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Needham & Company maintains a 'Buy' on 3D Systems (NYSE: DDD) price target of $38.00 (from $36.00).

Analyst, James Ricchiuti, said, "DDD turned in a strong Q2 report yesterday, highlighted by 52% top-line growth (20% organic) and strong margin expansion, with EPS coming in modestly above our estimate. Activity remained strong in each of DDD’s major geographies, with revenues up q/o/q in each region, including Europe. Mgmt reiterated its full-year revenue and non-GAAP EPS guidance. While macro concerns ultimately could weigh on DDD’s 2H prospects, we came away from the Q2 report and earnings call more confident about the outlook for the 2H."

"We are maintaining our non-GAAP EPS est. for 2012 at $1.09 on revenues of $343.7M, up from our prior $339M estimate. For 2013, we now estimate non-GAAP EPS at $1.30 on revenues of $409M (up 19%)."

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 $34.18 yesterday.


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