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

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

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

Stratasys Stock Down 3.6 %

NASDAQ SSYS opened at $9.26 on Thursday. Stratasys has a 52 week low of $6.05 and a 52 week high of $14.93. The firm has a market capitalization of $660.96 million, a price-to-earnings ratio of -7.02 and a beta of 1.21. The company has a fifty day moving average of $7.62 and a two-hundred day moving average of $8.19.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The firm had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $139.49 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The firm’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) EPS. Equities research analysts anticipate that Stratasys will post -0.44 EPS for the current year.

Institutional Investors Weigh In On Stratasys

Several hedge funds have recently made changes to their positions in SSYS. Crewe Advisors LLC bought a new stake in shares of Stratasys in the first quarter valued at about $61,000. Gamco Investors INC. ET AL raised its holdings in shares of Stratasys by 4.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 48,659 shares of the technology company’s stock valued at $565,000 after purchasing an additional 1,850 shares in the last quarter. Gabelli Funds LLC lifted its position in shares of Stratasys by 6.7% in 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 during the period. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in shares of Stratasys by 17.4% during the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 122,204 shares of the technology company’s stock valued at $1,420,000 after purchasing an additional 18,100 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in Stratasys during the first quarter valued at approximately $598,000. 75.77% of the stock is currently owned by hedge funds and other 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.