In a report released on February 6, Shannon Cross from Credit Suisse reiterated a Hold rating on Velo3D (VLD – Research Report), with a price target of $3.70. The company’s shares closed yesterday at $3.16.
Cross covers the Technology sector, focusing on stocks such as Apple, Corning, and HP. According to TipRanks, Cross has an average return of 11.0% and a 65.45% success rate on recommended stocks.
Velo3D has an analyst consensus of Moderate Buy, with a price target consensus of $3.70.
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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 $8.71 million and had a GAAP net loss of $66.58 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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