3D Systems shares fell 6.8% to $16.42 on Thursday after Piper Jaffray issued a bearish research note on the stock. Piper Jaffray analyst Troy Jensen cut his price target on the stock from $18 to $16, and reiterated an Underweight rating. 3D Systems shares have declined more than 43% in the last three months.
3D Systems likely to miss Q2 estimates
Piper Jaffray expects significantly lower growth in the second half of the year. As a result, it has lowered its EPS and revenue estimates for 2015 and 2016. Troy Jensen also expects 3D Systems to miss the Q2 Street expectations. Wall Street on average expects the 3D printing firm to report 9 cents in EPS on revenues of $173.90 million, up 14.80% from $151.51 million in the same quarter a year ago.