Piper Jaffray analyst Troy Jensen says feedback from his reseller survey indicates overall 3D printing industry demand was "fairly balanced" in Q3, with system and service bureau sales slightly below plan, offset by modest upside in material sales. The U.S. market "appears healthy," but sustained weakness in Europe is preventing growth for select vendors, Jensen tells investors in a research note. The analyst continues to believe production applications are slowly gaining momentum, which should be a better driver for system sales in 2020 and beyond. The survey generated better feedback following a "disappointing" Q2, according to Jensen. He has Overweight ratings on both 3D Systems (DDD) and Stratasys (SSYS), but prefers the latter. Stratasys' "significant number" of new product cycles will reaccelerate its system growth in 2020, Jensen contends.

The company said: "We continue to expect to report consolidated revenue for the full fiscal year 2024 within the 265,000 to 275,000 kEUR range we communicated in our year-end 2023 earnings announcement in February 2024. We are also maintaining our Adjusted EBIT guidance of 11,000 kEUR to 14,000 kEUR for fiscal year 2024."

Cantor Fitzgerald initiated coverage of Materialise with an Overweight rating and $9.50 price target.