Piper Jaffray Companies Raises Materialise NV (MTLS) Price Target to $18.50

Materialise NV (NASDAQ:MTLS) had its price target lifted by Piper Jaffray Companies to $18.50 in a note issued to investors on Monday, July 31st. The brokerage presently has an “overweight” rating on the software maker’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 44.19% from the stock’s previous close.

A number of other research firms have also recently commented on MTLS. BidaskClub raised shares of Materialise NV from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. TheStreet raised shares of Materialise NV from a “d+” rating to a “c” rating in a research report on Monday, June 26th. Finally, Zacks Investment Research raised shares of Materialise NV from a “sell” rating to a “hold” rating in a research report on Thursday, April 27th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $13.13.

Shares of Materialise NV (MTLS) traded up 1.10% during mid-day trading on Monday, reaching $12.83. 27,537 shares of the company’s stock were exchanged. Materialise NV has a 52-week low of $6.07 and a 52-week high of $15.74.

Materialise NV (NASDAQ:MTLS) last released its quarterly earnings data on Tuesday, August 8th. The software maker reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.01. Materialise NV had a negative return on equity of 1.59% and a negative net margin of 0.99%. The company had revenue of $33.61 million for the quarter, compared to the consensus estimate of $31.90 million. During the same period last year, the firm earned ($0.01) earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, analysts anticipate that Materialise NV will post ($0.02) EPS for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of MTLS. LA Financiere DE L Echiquier purchased a new position in Materialise NV during the second quarter valued at about $3,724,000. Royce & Associates LP increased its position in Materialise NV by 122.8% in the first quarter. Royce & Associates LP now owns 439,000 shares of the software maker’s stock valued at $3,995,000 after buying an additional 242,000 shares in the last quarter. Columbus Circle Investors purchased a new position in Materialise NV during the second quarter valued at about $2,014,000. ARK Investment Management LLC increased its position in Materialise NV by 62.3% in the second quarter. ARK Investment Management LLC now owns 269,748 shares of the software maker’s stock valued at $3,202,000 after buying an additional 103,542 shares in the last quarter. Finally, UBS Group AG increased its position in Materialise NV by 11,860.8% in the first quarter. UBS Group AG now owns 78,702 shares of the software maker’s stock valued at $716,000 after buying an additional 78,044 shares in the last quarter. 8.51% of the stock is owned by hedge funds and other institutional investors.

About Materialise NV

Materialise NV is a Belgium-based company engaged in the software industry. The Company is a provider of additive manufacturing software and of three dimensional (3D) printing services. Materialise NV incorporates of 3D printing experience into a range of software solution and 3D printing services, through which the Company seeks to form the backbone of the 3D printing industry.

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