Update shared on 12 Dec 2025
Analysts have modestly increased their price target for 3D Systems to $4.75 from $4.00, citing a slightly higher assumed future earnings multiple and a marginally higher discount rate while leaving long term growth and margin expectations effectively unchanged.
Analyst Commentary
Analysts view the modest price target increase as a reflection of slightly improved confidence in 3D Systems' ability to execute on its strategy, while still recognizing meaningful execution and market risks at current levels.
Bullish Takeaways
- Bullish analysts see the higher price target as supported by incremental improvements in the assumed earnings multiple, suggesting the market may be willing to pay slightly more for the company’s future cash flow potential.
- They highlight that maintaining an Overweight stance indicates expectations for the shares to outperform peers if management can deliver on operational efficiencies and stabilize top line trends.
- Some view the unchanged long term growth and margin assumptions as conservative, leaving potential upside if cost controls, mix shift, or demand recovery come through more strongly than currently modeled.
- The updated valuation framework is seen as acknowledging recent progress in strategic refocusing and portfolio optimization, which could support more predictable execution over the medium term.
Bearish Takeaways
- Bearish analysts note that the price target revision is modest in absolute terms, which underscores that the overall return potential remains constrained without a clear inflection in revenue growth.
- The slightly higher discount rate embedded in the new valuation signals lingering concerns around execution risk, industry competition, and the timing of a sustained recovery in demand.
- Unchanged long term margin and growth expectations suggest limited confidence in near term catalysts, with the risk that any operational missteps could quickly erode already tight valuation support.
- There is caution that the multiple expansion underpinning the target hike is not yet backed by consistently improving fundamentals, leaving the stock vulnerable if upcoming results disappoint.
What's in the News
- 3D Systems unveiled the SLA 825 Dual, a new large frame stereolithography printer aimed at high throughput applications in automotive, Formula 1, aerospace, space, and service bureaus. The company highlighted faster production cycles and reduced manual labor in investment casting workflows (Key Developments).
- The company introduced ArrayCast, a tooling free investment casting solution that enables fully assembled, 3D printed casting trees and greater design freedom. It also introduced the new Accura SbF resin to improve stability and predictability in casting processes (Key Developments).
- 3D Systems launched Accura Xtreme Black, a durable prototyping resin designed for demanding form, fit, and function applications such as snap fits, rugged enclosures, and consumer electronics (Key Developments).
- The company rolled out the MJP 300W Plus wax 3D printer for jewelry manufacturing. It features new print modes in 3D Sprint software that target up to 30% higher productivity, 20% lower material usage, and improved surface finish (Key Developments).
- Management issued fourth quarter 2025 guidance calling for sequential revenue growth of 8% to 10% versus the third quarter. This signaled expectations for near term demand improvement (Key Developments).
Valuation Changes
- Fair Value: Unchanged at $3.63 per share, reflecting a stable view of intrinsic equity value despite recent updates to other assumptions.
- Discount Rate: Risen slightly from 10.32% to approximately 10.60%, implying a modestly higher required return to compensate for perceived risk.
- Revenue Growth: Effectively flat at about 2.38% annually, indicating no material change in long term top line expectations.
- Net Profit Margin: Essentially unchanged at roughly 9.29%, suggesting steady long term profitability assumptions.
- Future P/E: Increased slightly from 13.71x to about 13.82x, indicating a small uplift in the valuation multiple applied to forward earnings.
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