3D Systems shares are trading lower after the company reported worse-than-expected Q2 financial results and issued FY24 revenue guidance below estimates. Also, Cantor Fitzgerald maintained an Overweight rating on the stock and lowered its price target from $5.5 to $3.75.
Portfolio Pulse from Benzinga Newsdesk
3D Systems shares declined following disappointing Q2 results and lower FY24 revenue guidance. Cantor Fitzgerald maintained an Overweight rating but reduced the price target from $5.5 to $3.75.
August 30, 2024 | 7:56 pm
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3D Systems reported worse-than-expected Q2 results and issued FY24 revenue guidance below estimates, leading to a decline in share price. Cantor Fitzgerald maintained an Overweight rating but lowered the price target from $5.5 to $3.75.
The negative Q2 results and reduced FY24 guidance are likely to weigh on investor sentiment, causing a short-term decline in DDD's stock price. The lowered price target by Cantor Fitzgerald further supports this negative outlook, despite the maintained Overweight rating.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100