Any projections are at best educated guesses so caution is advised, at Monday's low the stock had suffered a 32% bear market in 20 days.
"Hot Research" is the name of the Barron's column:
Maxim Group cut the target price on the printer maker to $40 from $42.
3D Systems (DDD: NYSE)
By Maxim Group ($34.55, Feb. 26, 2013)
3D Systems reported December quarter revenue of $101.6 million, up 45% year-over-year and up 12% quarter-over-quarter, or modestly below Wall Street estimates of $103.9 million. This is a moderation in momentum when compared to March and September quarters when it reported annual growth of 63% and 57%, respectively.
We are increasing our 2013 revenue and non-GAAP earnings-per-share estimates for 3D (ticker: DDD) to $461.5 million and $1.12, respectively, from $457.3 million and $1.05, respectively. We are also increasing our 2014 revenue and non-GAAP EPS estimates to $548.5 million and $1.30, respectively, from $526.8 million and $1.35, respectively.
Our price target [down to $40 from $42] reflects a 30 times multiple on our calendar 2014 non-GAAP EPS estimate of $1.30 plus cash/per share of $1.81. The multiple represents a price-to-earnings growth multiple of 1.2 times or in line with the peer group average. On an absolute basis, the stock currently trades at 47 times trailing 12 months price/earnings or 3.4 times the Standard & Poor's 500 multiple. We are reducing our target on lower valuation multiple due to limited operational leverage and higher printer mix. Institutional money flow is very weak. Near-term support and resistance are at $29.25 (40-week moving average) and $39.93 (10-week moving average), respectively....MORE
