Stratasys (NASDAQ:SSYS) Price Target Raised to $12.00 at Needham & Company LLC

Stratasys (NASDAQ:SSYS) had its price target lifted by equities researchers at Needham & Company LLC from $10.00 to $12.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 18.69% from the company’s previous close.

SSYS has been the topic of a number of other research reports. Cantor Fitzgerald cut 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. StockNews.com started coverage on Stratasys in a report on Monday, September 2nd. They issued a “hold” rating for the company. Lake Street Capital dropped their price objective on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, Loop Capital reduced their target price on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.20.

Stratasys Trading Up 20.5 %

NASDAQ:SSYS opened at $10.11 on Thursday. The firm’s fifty day simple moving average is $7.42 and its 200 day simple moving average is $8.18. Stratasys has a twelve month low of $6.05 and a twelve month high of $14.93. The firm has a market capitalization of $721.65 million, a price-to-earnings ratio of -6.20 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings data on Thursday, August 29th. The technology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $146.38 million. Stratasys had a negative return on equity of 3.29% and a negative net margin of 18.98%. The firm’s quarterly revenue was down 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. On average, analysts predict that Stratasys will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On Stratasys

Several large investors have recently added to or reduced their stakes in the company. Rubric Capital Management LP raised its stake in Stratasys by 18.2% during the second quarter. Rubric Capital Management LP now owns 5,968,703 shares of the technology company’s stock worth $50,077,000 after acquiring an additional 918,703 shares during the period. ARK Investment Management LLC raised its position in shares of Stratasys by 22.2% during the 2nd quarter. ARK Investment Management LLC now owns 642,632 shares of the technology company’s stock worth $5,392,000 after purchasing an additional 116,912 shares during the period. RPG Investment Advisory LLC lifted its holdings in shares of Stratasys by 29.6% in the 3rd quarter. RPG Investment Advisory LLC now owns 659,996 shares of the technology company’s stock worth $5,485,000 after purchasing an additional 150,891 shares during the last quarter. State of Michigan Retirement System boosted its position in Stratasys by 17.2% during the 2nd quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company’s stock valued at $6,859,000 after purchasing an additional 120,000 shares during the period. Finally, Clearline Capital LP bought a new position in Stratasys during the 2nd quarter worth $9,301,000. 75.77% of the stock is currently owned by institutional investors.

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.