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

Stratasys (NASDAQ:SSYS) had its price objective lifted by equities research analysts at Needham & Company LLC from $10.00 to $12.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 29.59% from the company’s previous close.

Several other brokerages have also weighed in on SSYS. Cantor Fitzgerald dropped their price objective on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. StockNews.com assumed coverage on shares of Stratasys in a report on Monday, September 2nd. They issued a “hold” rating on the stock. Lake Street Capital reduced their price objective on Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a report on Friday, August 30th. Finally, Loop Capital decreased their target price on Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.40.

Stratasys Price Performance

Stratasys stock opened at $9.26 on Thursday. Stratasys has a fifty-two week low of $6.05 and a fifty-two week high of $14.93. The firm has a market capitalization of $660.98 million, a PE ratio of -7.17 and a beta of 1.21. The company’s 50-day moving average is $7.56 and its 200-day moving average is $8.21.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings data on Thursday, August 29th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $146.38 million. Stratasys had a negative return on equity of 3.71% and a negative net margin of 16.13%. The business’s revenue was down 13.6% on a year-over-year basis. During the same period last year, the firm posted ($0.08) earnings per share. As a group, analysts expect that Stratasys will post -0.44 EPS for the current year.

Institutional Investors Weigh In On Stratasys

Hedge funds and other institutional investors have recently made changes to their positions in the business. Crewe Advisors LLC bought a new position in Stratasys during the 1st quarter worth $61,000. Quantbot Technologies LP bought a new position in shares of Stratasys in the third quarter worth $90,000. Stifel Financial Corp raised its stake in 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. bought a new stake in Stratasys during the third quarter worth about $210,000. Finally, Values First Advisors Inc. grew its stake 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 currently owned by institutional investors and hedge funds.

About Stratasys

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.