Stratasys (NASDAQ:SSYS) Given New $16.00 Price Target at Needham & Company LLC

Stratasys (NASDAQ:SSYS) had its target price decreased by Needham & Company LLC from $17.00 to $16.00 in a research note issued to investors on Friday, Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Separately, StockNews.com initiated coverage on Stratasys in a research note on Saturday, November 11th. They set a buy rating on the stock.

Stratasys Price Performance

Shares of SSYS opened at $11.05 on Friday. Stratasys has a 1-year low of $9.95 and a 1-year high of $21.72. The firm has a 50 day simple moving average of $11.58 and a 200-day simple moving average of $14.71. The stock has a market cap of $755.82 million, a price-to-earnings ratio of -6.86 and a beta of 1.45.

Stratasys (NASDAQ:SSYS) last posted its quarterly earnings data on Thursday, November 16th. The technology company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. Stratasys had a negative return on equity of 1.96% and a negative net margin of 17.53%. The firm had revenue of $162.13 million during the quarter, compared to analysts’ expectations of $161.72 million. On average, equities analysts expect that Stratasys will post -0.25 earnings per share for the current fiscal year.

Institutional Trading of Stratasys

A number of hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its stake in shares of Stratasys by 4.8% in the 2nd quarter. Van ECK Associates Corp now owns 19,107 shares of the technology company’s stock valued at $339,000 after purchasing an additional 871 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Stratasys by 73.4% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,103 shares of the technology company’s stock valued at $35,000 after purchasing an additional 890 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Stratasys by 2.0% in the 1st quarter. Citigroup Inc. now owns 57,325 shares of the technology company’s stock valued at $948,000 after purchasing an additional 1,148 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Stratasys by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 45,650 shares of the technology company’s stock valued at $658,000 after purchasing an additional 1,213 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Stratasys by 8.8% in the 1st quarter. Bank of New York Mellon Corp now owns 15,979 shares of the technology company’s stock valued at $406,000 after purchasing an additional 1,298 shares in the last quarter. 72.65% of the stock is owned by institutional investors and hedge funds.

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 SAF printer for manufacturing, tooling and rapid prototyping, and various vertical markets, such as automotive, aerospace, consumer products and healthcare.