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Kenneth Wong of Citi offered preview for the 3D printing sector.
Wong noted that the valuation across his coverage of 3D printing stocks has risen 40 percent year-to-date and nearly doubled since "troughing" in mid-February.
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"We believe the upside scenarios from demand snapback, operational efficiencies and take-out potential are overstated," the analyst wrote. "The Rapid 3D printing conference (May 16–19) is around the corner and likely be viewed as a positive catalyst."
Wong offered a quick look at three 3D printing names.
Stratasys
According to Wong, Stratasys, Ltd. (NASDAQ: SSYS) (reporting May 9 before market open) should report its first-quarter sales to be consistent with his estimate of $163.8 million. The analyst added that his channel checks with partners indicate that sales trends appear to be "less bad," which is "an improvement."
3D Systems
Wong's industry checks into 3D Systems Corporation (NYSE: DDD)'s business (reporting May 4 before market open) is "still fairly negative," which was nevertheless "expected considering the market environment and adjustments to the new channel program."
Voxeljet
Finally, Voxeljet AG (ADR) (NYSE: VJET) already provided quarterly guidance, and the analyst expects the company to report its results in line with expectations. The analyst added that strength should come from the services business with some upside due to better utilization of additional capacity.
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.