Analysts Conflictied on These Technology Names: 3D Systems (NYSE: DDD), Benefitfocus (NASDAQ: BNFT) and Novatel Wireless (NASDAQ: MIFI)

By Austin Angelo

Analysts have been eager to weigh in on the Technology sector with new ratings on 3D Systems (NYSE: DDD), Benefitfocus (NASDAQ: BNFT) and Novatel Wireless (NASDAQ: MIFI).

3D Systems (NYSE: DDD)

In a report released today, Ananda Baruah from Brean Capital reiterated a Hold rating on 3D Systems (NYSE: DDD). The company’s shares opened today at $14.

Baruah commented:

“We continue to believe that while revenue has stabilized, ’16 remains about assessing & beginning to implement CEO Vyomesh Joshi’s plan to cultivate holistic customer pull-based solution ecosystems encompassing hardware, materials, software & services. The good news is that DDD currently believes it has required IP in-house, and as such can go about its biz organically. DDD is did a very effective job on the call speaking to its goal of improving its installed base by focusing on higher-end production printers, and investing in the technological / material / solutions ecosystem components that will continue to position it to achieve this.”

According to TipRanks.com, Baruah is a 2-star analyst with an average return of 0.0% and a 50.9% success rate. Baruah covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Electronics for Imaging, and Lexmark International.

3D Systems has an analyst consensus of Moderate Buy.

Benefitfocus (NASDAQ: BNFT)

In a report released today, Richard Davis from Canaccord Genuity reiterated a Buy rating on Benefitfocus (NASDAQ: BNFT), with a price target of $35. The company’s shares opened today at $25, close to its 52-week low of $21.04.

According to TipRanks.com, Davis is a top 100 analyst with an average return of 7.9% and a 56.8% success rate. Davis covers the Technology sector, focusing on stocks such as Bottomline Technologies, Nuance Communications, and Ultimate Software.

Currently, the analyst consensus on Benefitfocus is Moderate Buy and the average price target is $50, representing a 100.0% upside.

In a report issued on October 31, Jefferies also reiterated a Buy rating on the stock with a $50 price target.
Novatel Wireless (NASDAQ: MIFI)

In a report released today, Michael Walkley from Canaccord Genuity reiterated a Hold rating on Novatel Wireless (NASDAQ: MIFI), with a price target of $3.50. The company’s shares opened today at $2.38.

According to TipRanks.com, Walkley is a top 100 analyst with an average return of 12.3% and a 56.7% success rate. Walkley covers the Technology sector, focusing on stocks such as Sequans Communications S A, Digi International Inc., and Powerwave Technologies.

Novatel Wireless has an analyst consensus of Moderate Buy, with a price target consensus of $3.25.