Needham & Company LLC Increases Stratasys (NASDAQ:SSYS) Price Target to $12.00

Stratasys (NASDAQ:SSYS) had its price objective upped by investment analysts at Needham & Company LLC from $10.00 to $12.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 18.69% from the stock’s previous close.

SSYS has been the subject of a number of other research reports. StockNews.com initiated coverage on shares of Stratasys in a research report on Monday, September 2nd. They issued a “hold” rating for the company. Cantor Fitzgerald decreased their price objective on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Lake Street Capital dropped their target price on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, Loop Capital decreased their price target on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.20.

Stratasys Trading Up 20.5 %

SSYS opened at $10.11 on Thursday. The business’s 50 day moving average is $7.42 and its 200-day moving average is $8.18. The stock has a market cap of $721.65 million, a PE ratio of -6.20 and a beta of 1.21. Stratasys has a twelve month low of $6.05 and a twelve month high of $14.93.

Stratasys (NASDAQ:SSYS) last announced its earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. Stratasys had a negative return on equity of 3.29% and a negative net margin of 18.98%. The firm had revenue of $138.00 million for the quarter, compared to the consensus estimate of $146.38 million. During the same quarter in the previous year, the business earned ($0.08) EPS. The firm’s revenue for the quarter was down 13.6% on a year-over-year basis. As a group, analysts forecast that Stratasys will post -0.44 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new stake in Stratasys during the 1st quarter worth about $61,000. Gamco Investors INC. ET AL boosted its stake in Stratasys by 4.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 48,659 shares of the technology company’s stock worth $565,000 after purchasing an additional 1,850 shares during the period. Gabelli Funds LLC grew its position in Stratasys by 6.7% during the 1st quarter. Gabelli Funds LLC now owns 177,037 shares of the technology company’s stock worth $2,057,000 after purchasing an additional 11,090 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its position in Stratasys by 17.4% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 122,204 shares of the technology company’s stock worth $1,420,000 after purchasing an additional 18,100 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in Stratasys during the 1st quarter valued at $598,000. Institutional investors and hedge funds own 75.77% of the company’s stock.

Stratasys Company Profile

Stratasys Ltd. provides connected polymer-based 3D printing solutions. It offers range of 3D printing systems, which includes polyjet printer, Fused Deposition Modeling (FDM) printers, stereolithography printing systems, origin P3 printers, and selective absorption fusion printer for additive manufacturing, and tooling and rapid prototyping for various vertical markets, such as automotive, aerospace, consumer products and healthcare.