Needham & Company Remains Sidelined on 3D Systems (DDD) Following Media Event

September 13, 2016 7:15 AM EDT
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Price: $14.23 +2.30%

Rating Summary:
    7 Buy, 14 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 26 | New: 7
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Needham & Company reiterated a Hold rating on 3D Systems (NYSE: DDD) following the company's media event and Q&A session. Management believes the industry is at an inflection point that will see the 3D printing transition over the next three years from prototyping to production. The company is also focused on cost reduction, but believes the low-hanging fruit will be in the COGS line.

Analyst James Ricchiuti commented, "DDD held a well-attended media event on the first day of IMTS in Chicago yesterday and hosted a Q&A session with analysts afterward. New CEO VJ Joshi, along with recent additions to senior mgmt, a number of whom worked with Joshi to build HP’s commercial printing business, discussed a three-year plan to position DDD to capitalize on what mgmt expects will be a major industry transition from prototyping to production. Mgmt did not provide any financial targets, though DDD appears to be tracking to higher sequential 2H revenues, consistent with prior comments from the company, with revenues and earnings expected to be higher in 2017. We came away from the meeting on the margin impressed with the new team and key elements of the turnaround strategy. That said, DDD shares appear fairly valued at current levels. Maintain Hold."

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 $15.49 yesterday.

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