Why 3D Systems Stock Is Climbing
3D Systems Corporation (NYSE:DDD) shares are trading higher Tuesday after the company received a multi-year purchase agreement with an estimated value of around $250 million through 2028.
The Details
3D Systems announced the signing of a multi-year purchase agreement, with a value estimated to approach a quarter-billion dollars, in support of the indirect manufacturing process for clear aligners.
The company also announced its expanded focus and technology roadmap tailored to deliver a range of solutions for a growing digital dentistry market. The portfolio will include solutions for alignment, protection, repair and replacement of teeth.
3D Systems targeted the commercial launch of direct printing technology for clear aligners targeted for late 2025.
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DDD Stock Prediction 2024
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of 3D Systems have an average 1-year price target of $8.25, representing an expected upside of 138.44%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on 3D Systems, while one analyst has a bullish rating: Cantor Fitzgerald has the shares as Overweight and a price target of $8.25.
DDD Price Action: According to Benzinga Pro, 3D Systems shares are up 17.05% after-hours at $4.05 at the time of publication Tuesday.
This illustration was generated using artificial intelligence via Dall-E
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