In a report released today, James Ricchiuti from Needham maintained a Buy rating on Velo3D (VLD – Research Report). The company’s shares closed yesterday at $3.38.
Ricchiuti covers the Technology sector, focusing on stocks such as Coherent Corp, Benchmark Electronics, and Cognex. According to TipRanks, Ricchiuti has an average return of 13.2% and a 56.42% success rate on recommended stocks.
Currently, the analyst consensus on Velo3D is a Moderate Buy with an average price target of $4.70.
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Based on Velo3D’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $19.64 million and a net profit of $127.95 million. In comparison, last year the company earned a revenue of $7.15 million and had a GAAP net loss of $12.54 million
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Velo3D offers metal 3D printing (or additive manufacturing) technology services. Its 3D printers are used to manufacture the components for jet engines, space rockets, fuel delivery systems, and other high-value metal parts. Velo3D also provides support services for an incremental fee.
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