Needham & Company LLC Boosts Stratasys (NASDAQ:SSYS) Price Target to $13.00

Stratasys (NASDAQ:SSYS) had its price objective boosted by research analysts at Needham & Company LLC from $12.00 to $13.00 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 price target would suggest a potential upside of 32.25% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Craig Hallum upped their price objective on shares of Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. StockNews.com cut shares of Stratasys from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Cantor Fitzgerald upped their price objective on shares of Stratasys from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.20.

Stratasys Trading Up 0.9 %

Shares of NASDAQ:SSYS opened at $9.83 on Thursday. The firm has a 50 day moving average of $10.25 and a 200-day moving average of $8.92. The stock has a market capitalization of $701.65 million, a PE ratio of -7.45 and a beta of 1.31. Stratasys has a 12 month low of $6.05 and a 12 month high of $12.88.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $150.40 million during the quarter, compared to analysts’ expectations of $151.01 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 EPS. On average, research analysts predict that Stratasys will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Stratasys

Several large investors have recently modified their holdings of SSYS. Headlands Technologies LLC bought a new position in shares of Stratasys during the fourth quarter valued at $68,000. Teton Advisors Inc. bought a new position in Stratasys during the fourth quarter worth $89,000. Quantbot Technologies LP bought a new position in Stratasys during the third quarter worth $90,000. SBI Securities Co. Ltd. bought a new position in Stratasys during the fourth quarter worth $90,000. Finally, Hsbc Holdings PLC raised its stake in Stratasys by 10.4% during the fourth quarter. Hsbc Holdings PLC now owns 16,664 shares of the technology company’s stock worth $148,000 after buying an additional 1,564 shares during the last quarter. Institutional investors 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.