Stratasys (NASDAQ:SSYS) Price Target Lowered to $12.00 at Cantor Fitzgerald

Stratasys (NASDAQ:SSYS) had its price objective reduced by stock analysts at Cantor Fitzgerald from $23.00 to $12.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 73.41% from the stock’s previous close.

Several other equities research analysts have also recently commented on SSYS. Needham & Company LLC lowered their price target on Stratasys from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday. Craig Hallum lowered their price target on Stratasys from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, July 1st. Finally, StockNews.com began coverage on Stratasys in a report on Sunday, August 25th. They set a “buy” rating on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $11.75.

Stratasys Stock Performance

Shares of NASDAQ SSYS opened at $6.92 on Friday. The stock has a market cap of $482.05 million, a price-to-earnings ratio of -3.78 and a beta of 1.21. The business has a 50 day simple moving average of $8.23 and a 200 day simple moving average of $9.77. Stratasys has a 52 week low of $6.05 and a 52 week high of $15.03.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings results on Wednesday, May 29th. The technology company reported ($0.15) EPS for the quarter, meeting the consensus estimate of ($0.15). The business had revenue of $144.05 million during the quarter, compared to analysts’ expectations of $147.53 million. Stratasys had a negative return on equity of 2.68% and a negative net margin of 20.38%. On average, analysts predict that Stratasys will post -0.28 EPS for the current year.

Institutional Investors Weigh In On Stratasys

Hedge funds and other institutional investors have recently modified their holdings of the stock. Crewe Advisors LLC acquired a new stake in shares of Stratasys in the first quarter worth $61,000. Larson Financial Group LLC grew its stake in shares of Stratasys by 2,711.2% in the first quarter. Larson Financial Group LLC now owns 9,558 shares of the technology company’s stock worth $111,000 after acquiring an additional 9,218 shares during the last quarter. Formidable Asset Management LLC grew its stake in shares of Stratasys by 21.1% in the fourth quarter. Formidable Asset Management LLC now owns 21,252 shares of the technology company’s stock worth $303,000 after acquiring an additional 3,705 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Stratasys by 49.0% in the fourth quarter. New York State Common Retirement Fund now owns 32,690 shares of the technology company’s stock worth $467,000 after acquiring an additional 10,747 shares during the last quarter. Finally, Values First Advisors Inc. grew its stake in shares of Stratasys by 51.3% in the second quarter. Values First Advisors Inc. now owns 33,175 shares of the technology company’s stock worth $278,000 after acquiring an additional 11,254 shares during the last quarter. Institutional investors and hedge funds own 75.77% of the company’s stock.

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.