Needham & Company LLC Issues Positive Forecast for Stratasys (NASDAQ:SSYS) Stock Price

Stratasys (NASDAQ:SSYS) had its price objective increased by Needham & Company LLC from $10.00 to $12.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other analysts have also recently issued research reports about the stock. StockNews.com initiated coverage on shares of Stratasys in a research note on Monday, September 2nd. They issued a “hold” rating on the stock. Loop Capital decreased their target price on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Cantor Fitzgerald decreased their target price 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. Finally, Lake Street Capital decreased their target price on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.40.

Stratasys Stock Down 1.8 %

SSYS stock traded down $0.17 during mid-day trading on Thursday, hitting $9.44. The company had a trading volume of 240,540 shares, compared to its average volume of 503,579. The company has a market capitalization of $673.83 million, a price-to-earnings ratio of -7.17 and a beta of 1.21. Stratasys has a 12-month low of $6.05 and a 12-month high of $14.93. The company has a 50-day moving average price of $7.56 and a 200 day moving average price of $8.21.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings results on Thursday, August 29th. The technology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $146.38 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.71%. The business’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) EPS. As a group, analysts expect that Stratasys will post -0.44 EPS for the current year.

Hedge Funds Weigh In On Stratasys

Several hedge funds have recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL grew 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 acquiring an additional 1,850 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Stratasys by 0.4% in the third quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock worth $8,731,000 after buying an additional 3,791 shares during the last quarter. ARK Investment Management LLC raised its holdings in shares of Stratasys by 0.7% in the third quarter. ARK Investment Management LLC now owns 647,221 shares of the technology company’s stock worth $5,378,000 after buying an additional 4,589 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Stratasys in the first quarter worth $61,000. Finally, Trium Capital LLP raised its holdings in shares of Stratasys by 5.6% in the second quarter. Trium Capital LLP now owns 150,948 shares of the technology company’s stock worth $1,266,000 after buying an additional 8,052 shares during the last quarter. 75.77% of the stock is currently owned by institutional investors.

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.