Needham & Company LLC Forecasts Strong Price Appreciation for Stratasys (NASDAQ:SSYS) Stock

Stratasys (NASDAQ:SSYS) had its target price raised by Needham & Company LLC from $10.00 to $12.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other research analysts have also issued reports on SSYS. Lake Street Capital decreased their target price on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Cantor Fitzgerald decreased their price objective on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Loop Capital cut their target price on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Finally, StockNews.com began coverage on shares of Stratasys in a research report on Monday, September 2nd. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.40.

Stratasys Stock Down 3.6 %

SSYS opened at $9.26 on Thursday. The company has a fifty day moving average of $7.62 and a two-hundred day moving average of $8.20. Stratasys has a fifty-two week low of $6.05 and a fifty-two week high of $14.93.

Stratasys (NASDAQ:SSYS) last announced its quarterly 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. The firm had revenue of $138.00 million during the quarter, compared to analyst estimates of $146.38 million. Stratasys had a negative return on equity of 3.75% and a negative net margin of 16.13%. Stratasys’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) EPS. Sell-side analysts predict that Stratasys will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stratasys

Several hedge funds and other institutional investors have recently modified their holdings of SSYS. Crewe Advisors LLC purchased a new stake in Stratasys during the 1st quarter valued at about $61,000. Quantbot Technologies LP purchased a new stake in shares of Stratasys in the third quarter valued at approximately $90,000. Stifel Financial Corp grew its position in shares of Stratasys by 24.7% in the third quarter. Stifel Financial Corp now owns 23,206 shares of the technology company’s stock valued at $193,000 after purchasing an additional 4,600 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Stratasys in the third quarter valued at approximately $210,000. Finally, Values First Advisors Inc. lifted its position in Stratasys by 51.3% during the second quarter. Values First Advisors Inc. now owns 33,175 shares of the technology company’s stock worth $278,000 after buying an additional 11,254 shares in the last quarter. 75.77% of the stock is owned by hedge funds and other institutional investors.

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.