Last week, 3D Systems Corporation (NYSE:DDD) shares tumbled 13% when the company warned investors of weak third-quarter results. The 3D printing company said it was going to miss the Q3 revenue and earnings guidance, mainly due to manufacturing delays for direct metal printers. The Rock Hill-based company said demand for its printers remained strong, but manufacturing constraints prevented it from meeting the demand.

3D Systems Corporation Price Target Lowered By Fintrust

3D Systems has full resolved manufacturing issues

The 3D printing company’s lowered Q3 revenue guidance stands at $164-$169 million. Non-GAAP earnings are expected to come in at 16-19 cents per share. By comparison, analysts were expected $186.2 million in revenue and 21 cents in EPS. 3D Systems also reduced its full-year forecast. The company expects full-year revenue of $650-$690 million, down $50 million from the previous guidance of $700-$740 million.

Fintrust Brokerage Services analysts Bruce Roberts and Allen Gillespie said in a research note Tuesday that they have also slashed full-year estimate for 3D Systems. Though Fintrust was expecting Q3 revenue of $182.8 million, it has lowered FY2014 guidance from $696.9 million to $670 million. Analysts noted that 3D Systems has fully resolved the manufacturing issues, and the metal printer production line was activated late last month.

3D Systems to remain a market leader

The company said at the beginning of this year that most of its revenue and profits would come in the later half of this year. That’s why investors were worried when it reduced its Q3 guidance. Notably, 3D Systems had been eyeing $1 billion revenue in FY2015. Now the company management says that 2015 guidance will be “revisited.” Fintrust expects the company’s sales to grow 33% in 2015 to $894 million.

Fintrust analysts lowered their price objective on the stock from $57 to $51, though they maintain a Buy rating. However, the research firm said it expects 3D Systems to remain a market leader. Roberts and Gillespie said 3D Systems is a key holding for investors that are in for the long-term.

3D Systems shares plunged 5.11% to $36.93 at 1:51 PM EDT on Wednesday.