In a report released today, Shannon Cross from Credit Suisse reiterated a Hold rating on Velo3D (VLD – Research Report), with a price target of $3.40. The company’s shares closed yesterday at $2.22.
According to TipRanks, Cross is a 3-star analyst with an average return of 5.7% and a 50.77% success rate. Cross covers the Technology sector, focusing on stocks such as Apple, CDW, and Pure Storage.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Velo3D with a $3.40 average price target.
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Based on Velo3D’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $29.78 million and a net profit of $22.61 million. In comparison, last year the company earned a revenue of $18.73 million and had a GAAP net loss of $56.82 million
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is neutral on the stock. Most recently, in March 2023, Chung Bernard, the VP Finance of VLD bought 50,000.00 shares for a total of $9,000.00.
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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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