Nvidia, OpenAI set to announce UK data center investment next week- reports
Desktop Metal Inc. (NYSE:DM) stock has hit a 52-week low, dropping to $1.96, as the company faces a turbulent market environment. According to InvestingPro data, the company’s overall financial health score is rated as WEAK, with concerning metrics across multiple dimensions. This latest price level reflects significant volatility for the 3D printing company, which has seen its shares struggle over the past year. The company’s revenue has declined by approximately 15%, while operating with thin gross profit margins of just 11%. This downturn highlights the broader challenges faced by the industry and the impact of economic pressures on companies within the sector. Investors are closely monitoring Desktop Metal’s performance for signs of a turnaround or further indications of market headwinds. For a deeper understanding of DM’s financial situation and growth prospects, access the comprehensive Pro Research Report, along with 14 additional key ProTips, available exclusively on InvestingPro.
In other recent news, Desktop Metal Inc. has been the focus of financial analysts at Cantor Fitzgerald, who maintained a Neutral rating for the company with a price target of $5.00. The firm noted that Desktop Metal has retracted its financial guidance, leading many analysts to halt their estimates for the company. Despite this, Cantor Fitzgerald projects a sequential revenue increase of 21% for the upcoming quarterly report, although this would mark a 16% decline compared to the same period last year. The anticipated growth follows a trend of three consecutive quarters of declining revenue. The analysts have highlighted challenges in hardware sales due to difficult macroeconomic conditions, which is a trend seen across the industry. Desktop Metal’s current strategy appears to focus on cash conservation and managing the completion of a recent acquisition. Cantor Fitzgerald’s analysis indicates a cautious outlook for Desktop Metal in the short term as it faces these economic headwinds.
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