Needham & Company Reaffirms a 'Buy' on 3D Systems (DDD); Ends 2011 On Strong Note, With Q4 Upside
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Price: $3.71 +2.49%
Rating Summary:
9 Buy, 17 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 17 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reaffirms a 'Buy' on 3D Systems (NYSE: DDD) price target raised from $20 to $28.
Analyst, James Ricchiuti, said, "DDD shares climbed 11% yesterday after the company posted better than expected Q4 results and provided 2012 guidance that was above Street expectations. Revenues were 9% above consensus, driven by 20% y/o/y growth in materials and over 90% growth in services. Organic growth was a very respectable 19%. DDD has entered 2012 with a good head of steam. Backlog exiting 2011 was solid, the integration with Z Corp. appears on track and demand across the company’s product portfolio and major geographies was strong in Q4. Mgmt for the first time provided annual revenue and non-GAAP EPS guidance, both of which were above Street expectations. If DDD can continue to execute as it did in Q4, we believe the stock can continue to work higher."
"We are raising our non-GAAP EPS estimate for Q1 to $0.21 from $0.16 on revenues of $72M, and have increased our full-year non-GAAP EPS estimate to $1.02 from $0.90 previously. We are initiating a 2013 non-GAAP EPS estimate of $1.24, with revenues expected to increase 16% to $382M."
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 $23.31 yesterday.
Analyst, James Ricchiuti, said, "DDD shares climbed 11% yesterday after the company posted better than expected Q4 results and provided 2012 guidance that was above Street expectations. Revenues were 9% above consensus, driven by 20% y/o/y growth in materials and over 90% growth in services. Organic growth was a very respectable 19%. DDD has entered 2012 with a good head of steam. Backlog exiting 2011 was solid, the integration with Z Corp. appears on track and demand across the company’s product portfolio and major geographies was strong in Q4. Mgmt for the first time provided annual revenue and non-GAAP EPS guidance, both of which were above Street expectations. If DDD can continue to execute as it did in Q4, we believe the stock can continue to work higher."
"We are raising our non-GAAP EPS estimate for Q1 to $0.21 from $0.16 on revenues of $72M, and have increased our full-year non-GAAP EPS estimate to $1.02 from $0.90 previously. We are initiating a 2013 non-GAAP EPS estimate of $1.24, with revenues expected to increase 16% to $382M."
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 $23.31 yesterday.
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