3D Systems (DDD) Acquisition Activity to Heat Up Amid Equity Raise - Needham & Company

Needham & Company analyst James Ricchiuti weighed in on 3D Systems (NYSE: DDD) following the company's equity raise. He expects acquisition activity to heat up amid the company's now ~$650 million cash position.

"DDD's large equity raise earlier this week takes its cash position to ~$650M, giving it plenty of dry powder to pursue an acquisition(s)," Ricchiuti comments. "While DDD could continue with technology, software and tuck-in paid-parts acquisitions, we would not be surprised to see mgmt do something out of the box, including an acquisition that would acclerate its push into high-throughput, continuous-flow additive manufacturing (i.e., to further the joint development Project Ara with Google). DDD typically puts cash to work fairly quickly. Mgmt could provide some additional color on its plans at its investor day in two weeks."

The firm maintained a Buy rating and price target of $70.00

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 $50.44 yesterday.

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