3D Systems (DDD) Numbers Slashed at UBS Ahead of Results

UBS analyst Steven Milunovich reiterated a Sell rating on 3D Systems (NYSE: DDD) an cut his price target of $10.00 (from $18.00) ahead of results next week.

Milunovich commented, "3D Systems is scheduled to report 2Q results next Thursday though the read-through from Stratasys indicates the continued deceleration of growth is more than a temporary pause in end-market demand. 3D Systems did not preannounce its 2Q earnings and had withdrew its 2015 outlook last quarter, but we remain concerned the company will not be able to provide assurances that demand is improving. We continue to believe 3D printing has a large opportunity to be disruptive at scale, though for now it appears use case expansion will be required to fuel the next leg of growth."

The firm's 2015 revenue declines from $752mm to $720mm. EPS declines more than 50% to $0.32 with expectations of a mid-single digit EBIT margin

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 $13.85 yesterday.

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