Printing Stocks Stratasys Ltd. and 3D Systems See a Boost in Share Price
NEW YORK, NY / ACCESSWIRE / May 17, 2017 / Stratasys' first quarter earnings report ignited a gaining frenzy for both Stratasys' shares and fellow 3D printing competitor 3D Systems Corporation on Tuesday. Both stocks soared into the green and helped push the NYSE higher.
RDI Initiates Coverage on:
Stratasys Ltd.
https://ub.rdinvesting.com/news/?ticker=SSYS
3D Systems Corporation
https://ub.rdinvesting.com/news/?ticker=DDD
Stratasys Ltd.'s shares closed up 2.44% on Tuesday and even hit a new 52-week high after the company posted its first quarter earnings before the market bell. The 3D printer maker reported revenue of $163.2 million, which came in ahead of the $162.5 million that analysts had called for. It was still a drop of 3% from the year-ago quarter however. Adjusted earnings of 5 cents also met the consensus estimate and was a climb from the one cent it saw a year ago. Traders weren't as impressed in the morning hours as the stock saw a 10% drop before rebounding to close in the green. Earlier in the week Brian Drab of Wiliam Blair has noted that Stratesys' shares have gained too fast this year and has said the stock is due for a correction. Stratasys' shares have seen an 85% gain YTD. Looking ahead, the largest U.S. manufacturer of 3D printers by revenue has forecast revenue in the range of $645 to $680 million, which is ahead of what analysts had expected.
Access RDI's Stratasys Research Report at:
https://ub.rdinvesting.com/news/?ticker=SSYS
3D Systems Corporation's shares closed in the green up 2.42% on Tuesday and hit a new 52-week high of $23.42 during intra-day trading. The stock has seen some impressive gains this month and yesterday's gains were more than likely the result of investors finding confidence in the 3d printing arena after Stratasys reported earnings. 3D Systems just announced last week that it has begun shipping 3DXpert software with direct metal printers. According to 3D, this could lead to 40% productivity gains and a 75% reduction in processing time. The company reported first quarter earnings earlier this month. Year-over-year revenue increased 2.5%, while its adjusted earnings per share grew 20%. Adjusted EPS at $0.06 was less than the $0.11 that Wall Street expected. Shares are up over 75% YTD.
Access RDI’s 3D Systems Research Report at:
https://ub.rdinvesting.com/news/?ticker=DDD
Our Actionable Research on Stratasys Ltd. (NYSE: SSYS) and 3D Systems Corporation (NYSE: DDD) can be downloaded free of charge at Research Driven Investing.
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