In this article, we will discuss the 5 best 3D printing stocks to buy now. If you want to read our discussion on the 3D printing industry’s growth prospects, go directly to the 10 Best 3D Printing Stocks To Buy Now.
5. Proto Labs, Inc. (NYSE:PRLB)
Number of Hedge Fund Holders: 17
Stock Price as of July 29: $48.89
Proto Labs, Inc. (NYSE:PRLB) is a Maple Plain, Minnesota-based 3D printing company involved in providing customized prototypes and low-volume production components. The company manufactures parts for the appliances, automotive, consumer electronics, and medical devices industries.
On May 9, Greg Palm at Craig-Hallum gave Proto Labs, Inc. (NYSE:PRLB) stock a target price of $50 with a Hold rating. Palm is analyzing the company’s post-Covid-19 growth strategy before adopting a more bullish view of the stock. Proto Labs, Inc. (NYSE:PRLB) is expected to release its Q2 2022 results on August 5. Analysts are anticipating the company to report revenue and adjusted EPS of $127.28 million and 39 cents, respectively. Proto Labs, Inc. (NYSE:PRLB) has a strong history of outperforming EPS estimates as it has done so in the last seven out of eight quarters.
Overall, 17 hedge funds held a cumulative stake worth over $106 million in Proto Labs, Inc. (NYSE:PRLB) at the end of Q1 2022.
4. Stratasys Ltd. (NASDAQ:SSYS)
Number of Hedge Fund Holders: 21
Stock Price as of July 29: $20.59
Stratasys Ltd. (NASDAQ:SSYS) is a producer of 3D printers, materials, and software. The American-Israeli company adopted a poison pill after Nano Dimensions Ltd. (NASDAQ:NNDM) revealed a 12.12% stake in the company on July 18 as a strategic investment in a market leader.
Stratasys Ltd. (NASDAQ:SSYS) is a key player in the 3D printing industry. The company generated revenues of $521 million and $607 million, respectively, in 2020 and 2021. In Q2 2022, analysts anticipate Stratasys Ltd. (NASDAQ:SSYS) to report revenue of $166.32 million, reflecting a 12% YoY growth in revenue. Out of the last eight quarters, Stratasys Ltd. (NASDAQ:SSYS) has outperformed revenue and EPS forecasts on six occasions.
As of Q1 2022, Stratasys Ltd. (NASDAQ:SSYS) was held by 21 hedge funds.
3. Trimble Inc. (NASDAQ:TRMB)
Number of Hedge Fund Holders: 28
Stock Price as of July 29: $69.43
Trimble Inc. (NASDAQ:TRMB) is a Sunnyvale, California-based hardware, software, and services company that provides support to agriculture, building and construction, geospatial, natural resources, and utility sectors.
The company owns a 3D designing and printing software called SketchUp. SketchUp was acquired by Trimble from Alphabet Inc (NASDAQ:GOOGL) in 2012. In April, Trimble Inc. (NASDAQ:TRMB) introduced SketchUp for iPad. The app is revolutionizing sketching in 3D by allowing users to transform doodles into configurable items.
On July 12, Tami Zakaria at JPMorgan gave Trimble Inc. (NASDAQ:TRMB) stock a target price of $65 with a Neutral rating. Trimble Inc. (NASDAQ:TRMB) has been given an average rating of “Moderate Buy” from seven brokerages. Around 91.47% of Trimble Inc.’s (NASDAQ:TRMB) shares are held by hedge funds and institutional investors.
2. PTC Inc. (NASDAQ:PTC)
Number of Hedge Fund Holders: 41
Stock Price as of July 29: $123.38
PTC Inc. (NASDAQ:PTC) is a Boston, Massachusetts-based software and services company with a headcount of over 6,000 employees across 30 countries.
PTC Inc. (NASDAQ:PTC) has the Creo CAD software in its portfolio to fulfill the demands of the 3D printing segment by prototyping. The stock is the second biggest holding in Ark Investment’s 3D Printing ETF, with a weightage of 4.17% as of Q2.
On July 28, Matthew Broome at Mizuho increased the target price for PTC Inc. (NASDAQ:PTC) from $120 to $130 and maintained a Buy rating on the stock. The analyst observed that the company reported a strong third quarter, which saw impressive booking growth and acceleration in annual recurring revenue (ARR). PTC Inc.’s (NASDAQ:PTC) cash from operations also rose by 33% YoY to $117 million.
PTC Inc. (NASDAQ:PTC) also saw an increase in hedge fund sentiment, with 41 funds holding a stake in the company at the end of Q1 2022, up from 31 in the previous quarter.
1. Autodesk, Inc. (NASDAQ:ADSK)
Number of Hedge Fund Holders: 50
Stock Price as of July 29: $216.32
Autodesk, Inc. (NASDAQ:ADSK) is a San Rafael, California-based provider of 3D designing, engineering, and construction software products and services.
On July 26, Ken Wong at Oppenheimer initiated coverage on Autodesk, Inc. (NASDAQ:ADSK) with an Outperform rating and a target price of $320. The analyst anticipates the company to deliver consistent high teens to low 20% growth in earnings due to the strong growth in the top line and margin expansion. Wong added that Autodesk, Inc. (NASDAQ:ADSK) is in a unique position to capitalize on the digital transformation in the construction industry.
Autodesk, Inc. (NASDAQ:ADSK) is the biggest holding in Ark Investment’s 3D Printing ETF. The hedge fund increased its stake in Autodesk, Inc. (NASDAQ:ADSK) by 5% during the second quarter of the year.
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