Craig-Hallum raised the firm’s price target on 3D Systems (DDD) to $4 from $3 and keeps a Hold rating on the shares. 3D Systems announced the sale of its Geomagic software portfolio for $123M to Hexagon, representing a more than 4x revenue multiple for the asset, a compelling valuation and alleviating what was becoming a growing balance sheet concern, the analyst tells investors in a research note. The firm is “pleased” management is taking steps to unlock shareholder value as divesting the Geomagic asset allows a reallocation of resources.
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Read More on DDD:
- 3D Systems rises 17.1%
- 3D Systems to sell Geomagic software portfolio to Hexagon for $123M
- 3D Systems Corp Faces Challenges Amid Revenue Decline
- 3D Systems lowers FY24 revenue view to $440M-$450M from $450M-$460M
- 3D Systems reports Q3 EPS (12c), consensus (9c)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
