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SSYS

Stratasys

$22.29

-0.1 (-0.45%)

, DDD

3D Systems

$12.92

0.09 (0.70%)

10:54
08/10/17
08/10
10:54
08/10/17
10:54

Stratasys advances after Citi, Piper call guidance conservative

The shares of 3D printer maker Stratasys (SSYS) are climbing after Citi upgraded the stock to Buy from Hold. The upgrade comes after the company reported better than expected results yesterday morning. Research firm Piper Jaffray responded to the results yesterday by reiterating its Overweight rating and slightly increasing its price target on the name. Meanwhile, the shares of another company in the sector, ExOne (XONE), are falling after its results missed expectations. RESULTS: Stratasys reported second quarter earnings per share ,excluding some items, of 17c, versus the consensus outlook of a 7c per share loss. The company's revenue came in slightly above expectations. It reiterated its fiscal 2017 EPS guidance, excluding some items, of 19c-37c and backed its previous fiscal 2017 revenue guidance of $645M to $680M, Analysts' consensus estimates were 28c and $686.67M, respectively. CITI UPGRADE: After Stratsys' better than expected results, its full-year targets are "achievable," and "well within reach," wrote Citi analyst Kenneth Wong. Meanwhile, sentiment towards the 3D printer sector is "low," but the sector's trends are improving, and Stratasys should benefit from its large customer base and the fact that a high percentage of its revenue comes from consumables which have elevated margins, Wong wrote. The strength in Stratasys' system sales was consistent with checks that Piper Jaffray has conducted with the company's resellers, wrote analyst Troy Jensen. The growth of the company's product sales look set to accelerate in the second half of the year "and well into the future," because of easy comparisons, increased demand for 3D printer products and new products, Jensen believes. Moreover, the company's strategies for specific vertical markets, including aerospace, automotive and health care are "paying off," and its 2017 guidance appears to be "overly conservative," according to Jensen, who raised his price target on the stock to $39 from $38 and reiterated an Overweight rating. EXONE: The company reported a per share loss of (40c), versus the consensus outlook of a (16c) per share loss. Its revenue came in at $10.8M, while two analysts had predicted an average of $14.8M. The company said its results were negatively impacted by timing, as $2.8M of revenue that it had expected to receive in Q2 will be recognized in Q3 instead. However, ExOne slightly lowered its fiscal 2017 revenue growth outlook to 20%-25%. On a positive note, the company says it remains on track to generate positive earnings before interest, taxes, depreciation and amortization, excluding some items,in fiscal 2017. PRICE ACTION: In morning trading, Stratasys rose 1.3% to $22.60, ExOne tumbled 11% to $8.77 and 3D Systems (DDD) was flat.

SSYS

Stratasys

$22.29

-0.1 (-0.45%)

DDD

3D Systems

$12.92

0.09 (0.70%)

XONE

ExOne

$9.88

0.11 (1.13%)

  • 10

    Aug

  • 10

    Aug

  • 10

    Aug

SSYS Stratasys
$22.29

-0.1 (-0.45%)

08/10/17
08/10/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Cerner (CERN) upgraded to Equal Weight from Underweight at Morgan Stanley. 2. Stratasys (SSYS) upgraded to Buy from Neutral at Citi with analyst Kenneth Wong saying the company's fiscal 2017 targets are achievable following its "strong" second quarter results. The analyst lowered his price target for the shares to $29 from $32. 3. Vantiv (VNTV) upgraded to Buy from Hold at Stifel with analyst John Davis saying the company's acquisition of WorldPay is "transformative" and "a strategic home run." 4. Autohome (ATHM) was upgraded to Buy from Hold at Benchmark and Deutsche Bank. 5. Cubic (CUB) upgraded to Overweight from Neutral at JPMorgan with analyst Mark Strouse citing valuation with the shares down 14% since the third quarter report on August 3. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/24/17
LOOP
07/24/17
INITIATION
Target $24
LOOP
Hold
Stratasys initiated with a Hold at Loop Capital
Loop Capital analyst Ananda Baruah initiated Stratasys with a Hold and a $24 price target given strong year-to-date stock appreciation.
08/09/17
PIPR
08/09/17
NO CHANGE
Target $39
PIPR
Overweight
Stratasys guidance appears conservative, says Piper Jaffray
Piper Jaffray analyst Troy Jensen noted that Stratasys management reiterated their FY17 guidance, but said they see hitting the high end for revenues and operating margins, though he still believes the company's guidance is overly conservative given his expectation for accelerating product growth in the second half. The analyst, who adds that Stratasys' resellers that have indicated an uptick in system demand trends, raised his price target on the shares to $39 from $38 and keeps an Overweight rating on the stock.
08/10/17
SBSH
08/10/17
UPGRADE
Target $29
SBSH
Buy
Stratasys upgraded to Buy from Neutral at Citi
Citi analyst Kenneth Wong upgraded Stratasys to Buy saying the company's FY17 targets are achievable following its "strong" Q2 results. The analyst adds sector sentiment is low and that Stratasys continues to trade at a discount to peers. He lowered his price target for the shares to $29 from $32.
DDD 3D Systems
$12.92

0.09 (0.70%)

08/04/17
JPMS
08/04/17
UPGRADE
Target $13
JPMS
Neutral
3D Systems upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Paul Coster upgraded 3D Systems to Neutral citing valuation with the shares down 7.3% since his March 2016 downgrade to Underweight. The analyst considers his unchanged price target of $13 as fair value for the shares. 3D Systems closed yesterday down 21%, or $3.62, to $13.39 following its quarterly earnings report.
07/24/17
LOOP
07/24/17
INITIATION
Target $18
LOOP
Hold
3D Systems initiated with a Hold at Loop Capital
Loop Capital analyst Ananda Baruah started 3D Systems with a Hold rating and $18 price target.
07/19/17
PIPR
07/19/17
NO CHANGE
PIPR
Underweight
Piper checks show 3D Systems had another challenging quarter
Piper Jaffray analyst Troy Jensen says feedback from 63 3D printing resellers indicates the demand uptick in Q1 has sustained in Q2 with system sales relatively in line with expectations and strong material sales helping profitability. Stratasys' (SSYS) results were "relatively balanced," but 3D Systems' (DDD) resellers expressed another challenging quarter for system demand, Jensen tells investors in a research note. The weakness at 3D Systems is directly correlated with the launch of HP's (HPQ) Jet Fusion printer, the analyst contends. He believes now is the time for investors to revisit the 3D printing space, preferring shares of Stratasys, Materialise (MTLS), Proto Labs (PRLB) and voxeljet (VJET). Jensen recommends avoiding shares of 3D Systems at current levels.
08/03/17
PIPR
08/03/17
NO CHANGE
Target $14
PIPR
Underweight
3D Systems reported disappointing results, says Piper Jaffray
Piper Jaffray analyst Troy Jensen says 3D Systems (DDD) last night reported disappointing results with weak printer sales being the primary factor in the revenue miss. The weak printer sales are directly correlated with increased competition from HP Inc. (HPQ), General Electric (GE) and others attacking 3D Systems' key product lines, Jensen tells investors in a post-earnings research note. He sees the company's second half of 2017 as "incrementally more challenging" and believes the stock's a "significant premium" to 3D printing peers is unwarranted. The analyst reiterates an Underweight rating on 3D Systems with a $14 price target.
XONE ExOne
$9.88

0.11 (1.13%)

10/03/16
FBRC
10/03/16
INITIATION
Target $18
FBRC
Outperform
ExOne coverage transferred with an Outperform at FBR Capital
FBR Capital transferred coverage on ExOne to analyst Christopher Van Horn who has an Outperform rating and a $18 price target on shares.
10/03/16
10/03/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. 3D Systems (DDD) coverage transferred with a Market Perform at FBR Capital. 2. Carnival (CCL) initiated with a Buy at HSBC. 3. GoDaddy (GDDY) initiated with a Buy at Summit Redstone. 4. Versum Materials (VSM) initiated with a Buy at Seaport Global. 5. ExOne (XONE) coverage transferred with an Outperform at FBR Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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