3D Systems stock dropped 20% due to revenue decline and macroeconomic challenges

From Nasdaq: 2024-12-09 11:48:00

3D Systems’ shares have dropped by 19.9% in the past month, with a revenue decline of $112.9 million due to slow demand for new printing systems. Despite challenges, the company focuses on innovation and growth in healthcare. Investors are advised to hold on to DDD stock.

3D Systems is expanding its presence in the automotive market and introduced QuickCast Air for investment casting. The company’s partnership with Baker Hughes has led to significant cost reductions and efficiency improvements. The Healthcare sector shows promise with revenue growth and FDA clearance for patient-specific surgical solutions.

Earnings estimates for 3D Systems show a downward trend for 2024, with revenues expected to recover sequentially. The company faces macroeconomic challenges and stiff competition, leading to a stretched valuation. Investors are advised to hold off on investing in DDD stock for better entry points.

Garmin, NVIDIA, and Broadcom are better-ranked stocks in the tech sector, each with a Zacks Rank #2 (Buy). These companies have strong long-term earnings growth rates and could be good investment options. Download the free report on nuclear energy’s comeback for more investment insights and opportunities.



Read more at Nasdaq: 3D Systems Plunges 20% in a Month: Buy, Sell or Hold the Stock?