Stratasys (NASDAQ:SSYS) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Stratasys (NASDAQ:SSYS) had its price target lifted by stock analysts at Needham & Company LLC from $12.00 to $13.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 25.60% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. StockNews.com cut Stratasys from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Cantor Fitzgerald boosted their price target on Stratasys from $12.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Craig Hallum raised their price objective on shares of Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Stratasys has a consensus rating of “Moderate Buy” and a consensus target price of $12.20.

Stratasys Stock Performance

Shares of SSYS stock opened at $10.35 on Thursday. Stratasys has a fifty-two week low of $6.05 and a fifty-two week high of $12.88. The firm has a market capitalization of $738.76 million, a PE ratio of -7.84 and a beta of 1.31. The stock’s 50-day simple moving average is $10.23 and its 200-day simple moving average is $8.90.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. The business had revenue of $150.40 million during the quarter, compared to analysts’ expectations of $151.01 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.02 EPS. Sell-side analysts forecast that Stratasys will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Formidable Asset Management LLC grew its position in shares of Stratasys by 4.1% in the fourth quarter. Formidable Asset Management LLC now owns 24,545 shares of the technology company’s stock valued at $218,000 after purchasing an additional 965 shares during the period. Squarepoint Ops LLC lifted its stake in Stratasys by 782.2% in the 4th quarter. Squarepoint Ops LLC now owns 103,209 shares of the technology company’s stock valued at $918,000 after buying an additional 91,510 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Stratasys in the 4th quarter worth about $261,000. Point72 Asset Management L.P. increased its stake in Stratasys by 12.1% during the 4th quarter. Point72 Asset Management L.P. now owns 28,371 shares of the technology company’s stock worth $252,000 after buying an additional 3,071 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Stratasys by 8.4% during the fourth quarter. Millennium Management LLC now owns 90,715 shares of the technology company’s stock valued at $806,000 after acquiring an additional 7,066 shares during the last quarter. 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.