Lake Street Capital Trims Stratasys (NASDAQ:SSYS) Target Price to $11.00

Stratasys (NASDAQ:SSYS) had its price objective reduced by investment analysts at Lake Street Capital from $15.00 to $11.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Lake Street Capital’s target price points to a potential upside of 58.96% from the stock’s current price.

A number of other research firms also recently weighed in on SSYS. StockNews.com initiated coverage on Stratasys in a research note on Sunday, August 25th. They issued a “buy” rating on the stock. Craig Hallum decreased their price target on Stratasys from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, July 1st. Cantor Fitzgerald decreased their price target on Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Needham & Company LLC decreased their price target on Stratasys from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $11.75.

Stratasys Trading Down 9.9 %

Shares of SSYS stock opened at $6.92 on Friday. The business’s 50 day moving average is $8.23 and its two-hundred day moving average is $9.77. Stratasys has a twelve month low of $6.05 and a twelve month high of $15.03. The company has a market capitalization of $482.05 million, a P/E ratio of -3.78 and a beta of 1.21.

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

Institutional Investors Weigh In On Stratasys

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Stratasys in the fourth quarter valued at $6,706,000. New York State Common Retirement Fund grew its position in Stratasys by 49.0% during the fourth quarter. New York State Common Retirement Fund now owns 32,690 shares of the technology company’s stock valued at $467,000 after acquiring an additional 10,747 shares during the period. Rubric Capital Management LP grew its position in Stratasys by 366.7% during the fourth quarter. Rubric Capital Management LP now owns 4,250,000 shares of the technology company’s stock valued at $60,690,000 after acquiring an additional 3,339,367 shares during the period. Gabelli Funds LLC grew its position in Stratasys by 38.3% during the fourth quarter. Gabelli Funds LLC now owns 165,947 shares of the technology company’s stock valued at $2,370,000 after acquiring an additional 45,957 shares during the period. Finally, Frontier Capital Management Co. LLC grew its position in Stratasys by 9.1% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,694,148 shares of the technology company’s stock valued at $24,192,000 after acquiring an additional 140,841 shares during the period. Hedge funds and other institutional investors 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.