3D Systems Corporation (DDD) Surprises Market With Preliminary Earnings Beat

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It’s been quite a long time since any of the major 3D printing companies had good news, but today 3D Systems Corporation (NYSE:DDD) broke this trend. Surprising the market befoe the bell, the company announced preliminary fourth quarter numbers, beating expectations and sending shares significantly higher in early morning trading.

3D Systems Corporation (NYSE:DDD) said that they expect to report revenue of around $183 million on February 24, beating analyst estimates of $161 million by a wide margin.

“Industry conditions remain challenging and demand may be uneven in the coming periods. However, we are confident about the long-term opportunities for our technology and solutions,” commented Andy Johnson, Interim President & CEO and Chief Legal Officer, 3D Systems. “We are prioritizing our resources around professional and industrial applications to foster sustainable growth and improve profitability.”The stock is up 7.93% or $0.64 following the news, hitting $8.71 per share. About 53,430 shares traded hands. DDD has declined 54.20% since July 8, 2015 and is downtrending. It has underperformed the S&P500 by 45.33%.

From a total of 9 analysts covering 3D Systems Corporation (NYSE:DDD) stock, 2 rate it a “Buy”, 1 a “Sell”, and 6 a “Hold”. This means that 22% of the ratings are positive. The highest target price is $22 while the lowest target price is $9. The mean of all analyst targets is $11.86 which is 36.17% above today’s ($8.71) stock price. 3D Systems Corporation was the topic of 16 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Canaccord Genuity maintained shares on January 15 with a “Hold” rating. Piper Jaffray upgraded shares to a”Neutral” rating and a $14 target share price in their report from an August 7. Stephens upgraded DDD stock in a recent report from December 17 to a “Overweight” rating. Finally, Stifel Nicolaus maintained the stock with a “Hold” rating in a report they issued on an August 7.

The institutional sentiment increased to 1.1 in Q2 2015. It’s up 0.02, from 1.08 in 2015Q2. The ratio is positive, as 48 funds sold all their 3D Systems Corporation shares they owned while 63 reduced their positions. 40 funds bought stakes while 82 increased their total positions. Institutions now own 65.81 million shares which is 14.52% more than the previous share count of 57.46 million in 2015Q2.

Investment Management Of Virginia Llc holds 4.97% of its total portfolio in 3D Systems Corporation, equating to 1.63 million shares. Clark Estates Inc Ny owns 1.43 million shares representing 2.83% of their total US portfolio. Moreover, Wall Street Access Asset Management Llc has 2.8% of their total portfolio invested in the company, equating to 365,259 shares. The Louisiana-based Villere St Denis J & Co Llc has a total of 2.43% of their portfolio invested in the stock. Bluefin Trading Llc, a New York-based fund reported 1.14 million shares owned.

Since September 10, 2015, the stock had 0 insider purchases, and 1 sale for a total of $106,716 in net activity. Johnson Andrew Martin sold 8,000 shares worth $106,716.

3D Systems Corporation is a holding company. The company has a market cap of $925.73 million. The Firm is a well-known provider of three-dimensional printing centric solutions. It currently has negative earnings. It provides 3D design-to-manufacturing solutions, including 3D printers, print materials and cloud sourced custom parts.