Needham & Company are 'Cautiously Optimistic' on 3D Systems (DDD) Following Investor Day

Needham & Company maintain a Buy rating and $28.00 price target on 3D Systems (NYSE: DDD) following an investor day. Analyst James Ricchiuti came away from the trip "cautiously optimistic".

Ricchiuti commented on the event, saying, "We attended DDD’s investor day last week at its Wilsonville, OR center which oversees product development in jetting technology. DDD took the opportunity to introduce several senior execs who have joined the company over the past year, including Dave Styka, who has taken over as CFO. Mgmt also opened the curtain on several products under development. DDD also addressed the recent business slowdown, noting that demand has picked up among its larger customers and reiterating that operating expense would be declining in absolute dollars in 2H. We have also included observations from last week’s Rapid show relative to the industry slowdown in demand. We came away from our trip last week cautiously optimistic that DDD, while facing a number of challenges, may be seeing business stabilize and gradually improve in 2H."

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 $21.96 yesterday.

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