The 3D printing industry achieved solid growth amid the COVID-19 pandemic because 65% of engineering firms worldwide are using 3D printing increasingly. In addition, owing to its sustainable nature, 3D printing will likely increase in popularity. With rapid digital transformation…
the 3D printing segment has become a dominant force worldwide, owing to its cost-effectiveness and simplified production methods. According to an RFDTV publication, the global 3D printing market is predicted to grow at a 27.3% CAGR by 2023.
Therefore, Wall Street analysts expect popular 3D printing stocks Stratasys Ltd. (SSYS – Get Rating), Desktop Metal, Inc. (DM – Get Rating), Velo3D, Inc. (VLD – Get Rating), and Shapeways Holdings, Inc. (SHPW – Get Rating) to rally by more than 48% in price in the near term. So, we think it could be worth adding these stocks to one’s watchlist.
SSYS in Eden Prairie, Minn., provides connected and polymer-based 3D printing solutions. It sells its products through a network of resellers and independent sales agents worldwide. The company aims to deliver competitive advantages at every stage in the product value chain.
On Nov. 4, 2021, Dr. Yoav Zeif, Stratasys’ Chief Executive Officer, stated, “We expect the ongoing introduction of new product initiatives to further accelerate growth, complemented by our now 100% ownership of Xaar 3D and the new SAF technology, along with our recently announced open and enterprise-ready software platform that integrates with Industry 4.0 infrastructure and applications. We will continue to invest across our portfolio to further grow our sales and drive a return to sustained profitability.”
SSYS’ total sales increased 24.3% year-over-year to $159.01 million in the third quarter, ended September 30, 2021. While its gross profit increased 37% year-over-year to $68.19 million, its net loss came in at $18.08 million, compared to $405.07 million in the year-ago period. Also, its loss per share was $0.28, compared to $7.35 in the previous period.
Analysts expect SSYS’ revenue to grow 16.2% to $605.19 million in its fiscal 2021. Its EPS is estimated to grow at 250% to $0.12 in fiscal 2022.
Over the past six months, the stock has gained 7.9% in price to close yesterday’s trading session at $24.66. Furthermore, Wall Street analysts expect the stock to hit $36.60 in the near term, which indicates a potential 48.4% upside.
Burlington, Mass.-based DM manufactures and sells additive manufacturing solutions for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and Asia-Pacific. It aims to address the unmet challenges of speed, cost, and quality to make additive manufacturing an essential tool for engineers and manufacturers worldwide.
On Nov. 15, 2021, Ric Fulop, Founder, and CEO of DM, said, “Our core metals business was a key driver of this success, which demonstrates the market enthusiasm for our AM 2.0 technology. With the addition of…
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