Stratasys (NASDAQ:SSYS) Price Target Raised to $12.00

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

SSYS has been the subject of a number of other reports. Loop Capital cut their price objective on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Cantor Fitzgerald decreased 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 began coverage on Stratasys in a report on Monday, September 2nd. They set a “hold” rating on the stock. Finally, Lake Street Capital decreased their target price on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research note 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.40.

Stratasys Trading Down 3.6 %

Shares of SSYS stock opened at $9.26 on Thursday. The company has a 50 day simple moving average of $7.62 and a two-hundred day simple moving average of $8.19. The stock has a market cap of $660.96 million, a P/E ratio of -7.02 and a beta of 1.21. Stratasys has a 12 month low of $6.05 and a 12 month high of $14.93.

Stratasys (NASDAQ:SSYS) last announced its 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. Stratasys had a negative return on equity of 3.75% and a negative net margin of 16.13%. The company had revenue of $140.00 million for the quarter, compared to analysts’ expectations of $139.49 million. During the same period last year, the firm earned ($0.05) EPS. Stratasys’s revenue for the quarter was down 13.6% compared to the same quarter last year. As a group, equities analysts forecast that Stratasys will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On Stratasys

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in Stratasys in the 1st quarter worth approximately $61,000. Quantbot Technologies LP purchased a new position in shares of Stratasys in the third quarter valued at $90,000. Stifel Financial Corp increased its position in Stratasys by 24.7% in the third quarter. Stifel Financial Corp now owns 23,206 shares of the technology company’s stock worth $193,000 after purchasing an additional 4,600 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Stratasys during the third quarter valued at $210,000. Finally, Values First Advisors Inc. lifted its position in Stratasys by 51.3% during the second quarter. Values First Advisors Inc. now owns 33,175 shares of the technology company’s stock valued at $278,000 after purchasing an additional 11,254 shares during the last quarter. 75.77% of the stock is 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.