Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Moves by HP Inc (NYSE: HPQ) could put 3D printing stocks under pressure. UBS’ Steven Milunovich maintained a Sell rating for Stratasys, Ltd. (NASDAQ: SSYS), with a price target of $19.
“We continue to view 3D printing as a classically disruptive technology, starting in niche markets addressing non-consumption then moving into mainstream production as the technology improves,” analyst Steven Milunovich wrote.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Impact On 3D Printing Companies
Shares of Stratasys and 3D Systems Corporation (NYSE: DDD) had surged on sequential revenue growth in 4Q and outlook for modest revenue growth in 2016. Milunovich pointed out, however, that there are growing concerns surrounding HP’s entry later this year. He added, “Although HP Inc should grow the pie over time, the initial impact could be negative for today’s leaders.”
Margin Pressure
HP could formally announce its Multi Jet Fusion offering in a few months, with availbility by the end of 2016. The analsyt believes that HP would not pursue a consumables monetization model. Instead the company may open up materials to third parties to make cost reasonable. HP would make money on hardware, services and fusing agents.
Milunovich commented that currently, Stratasys records gross margins of about 80 percent on materials, and this would come under pressure due to HP’s planned moves.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.