Stratasys (NASDAQ:SSYS) Raised to Buy at StockNews.com

Stratasys (NASDAQ:SSYS) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC lifted their price objective on shares of Stratasys from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Craig Hallum upped their price target on Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Lake Street Capital decreased 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. Loop Capital lowered their price target on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Finally, 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 report on Friday, August 30th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stratasys currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.40.

Stratasys Price Performance

SSYS stock opened at $9.55 on Wednesday. The company has a market capitalization of $681.68 million, a PE ratio of -7.23 and a beta of 1.21. The firm’s 50-day moving average is $8.05 and its 200 day moving average is $8.19. Stratasys has a 12 month low of $6.05 and a 12 month high of $14.93.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $140.00 million during the quarter, compared to the consensus estimate of $139.49 million. During the same period in the previous year, the company posted ($0.05) earnings per share. The firm’s quarterly revenue was down 13.6% on a year-over-year basis. Sell-side analysts forecast that Stratasys will post -0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Stratasys

Several institutional investors and hedge funds have recently modified their holdings of SSYS. Rubric Capital Management LP raised its position in Stratasys by 3.7% during the third quarter. Rubric Capital Management LP now owns 6,191,000 shares of the technology company’s stock valued at $51,447,000 after acquiring an additional 222,297 shares in the last quarter. Clearline Capital LP boosted its holdings in Stratasys by 23.3% during the third quarter. Clearline Capital LP now owns 1,367,226 shares of the technology company’s stock worth $11,362,000 after buying an additional 258,603 shares in the last quarter. Invenomic Capital Management LP purchased a new position in Stratasys in the third quarter valued at $10,916,000. Pinnacle Associates Ltd. raised its position 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 acquiring an additional 3,791 shares during the period. Finally, State of Michigan Retirement System boosted its stake in shares of Stratasys by 17.2% during the 2nd quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company’s stock worth $6,859,000 after acquiring an additional 120,000 shares in the last quarter. Institutional investors and hedge funds own 75.77% of the company’s stock.

Stratasys Company Profile

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.