Needham & Company LLC Has Lowered Expectations for Stratasys (NASDAQ:SSYS) Stock Price

Stratasys (NASDAQ:SSYS) had its price objective decreased by equities research analysts at Needham & Company LLC from $15.00 to $13.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 41.00% from the company’s current price.

Separately, Wall Street Zen raised shares of Stratasys from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.20.

Stratasys Stock Down 7.9%

Shares of Stratasys stock opened at $9.22 on Wednesday. The firm has a market capitalization of $782.96 million, a P/E ratio of -6.88 and a beta of 1.57. The company has a 50 day moving average price of $10.94 and a 200 day moving average price of $10.51. Stratasys has a 52 week low of $6.05 and a 52 week high of $12.88.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings data on Wednesday, August 13th. The technology company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $138.09 million during the quarter, compared to analyst estimates of $137.15 million. Stratasys had a negative net margin of 17.42% and a negative return on equity of 1.09%. Stratasys’s revenue was up .1% on a year-over-year basis. During the same period last year, the firm posted ($0.04) EPS. As a group, research analysts anticipate that Stratasys will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stratasys

A number of institutional investors have recently bought and sold shares of SSYS. Invenomic Capital Management LP raised its position in Stratasys by 111.9% during the 1st quarter. Invenomic Capital Management LP now owns 2,466,198 shares of the technology company’s stock worth $24,144,000 after buying an additional 1,302,264 shares during the last quarter. RPG Investment Advisory LLC raised its position in Stratasys by 102.3% during the 1st quarter. RPG Investment Advisory LLC now owns 2,197,828 shares of the technology company’s stock worth $21,517,000 after buying an additional 1,111,491 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in Stratasys by 84.7% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,130,983 shares of the technology company’s stock worth $20,862,000 after buying an additional 977,403 shares during the last quarter. Penn Capital Management Company LLC purchased a new position in Stratasys during the 4th quarter worth approximately $5,376,000. Finally, Nuveen LLC purchased a new position in Stratasys during the 1st quarter worth approximately $4,097,000. 75.77% of the stock is owned by hedge funds and other 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.