Stratasys (NASDAQ:SSYS) Given New $12.00 Price Target at Needham & Company LLC

Stratasys (NASDAQ:SSYS) had its price target upped by Needham & Company LLC from $10.00 to $12.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other brokerages have also recently issued reports on SSYS. Cantor Fitzgerald dropped their target price 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. Lake Street Capital dropped their target price on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, August 30th. StockNews.com began coverage on shares of Stratasys in a report on Monday, September 2nd. They issued a “hold” rating on the stock. Finally, Loop Capital dropped their price target on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.40.

Stratasys Stock Down 1.8 %

Shares of NASDAQ SSYS traded down $0.17 on Thursday, reaching $9.44. 240,540 shares of the company’s stock traded hands, compared to its average volume of 503,579. Stratasys has a 12 month low of $6.05 and a 12 month high of $14.93. The business’s 50 day simple moving average is $7.56 and its two-hundred day simple moving average is $8.21. The company has a market cap of $673.83 million, a price-to-earnings ratio of -7.17 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last posted its quarterly earnings results on Thursday, August 29th. The technology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.71%. The firm had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $146.38 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The business’s revenue for the quarter was down 13.6% on a year-over-year basis. Analysts forecast that Stratasys will post -0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Crewe Advisors LLC bought a new stake in shares of Stratasys during the 1st quarter valued at $61,000. Quantbot Technologies LP bought a new stake in shares of Stratasys during the 3rd quarter valued at $90,000. Values First Advisors Inc. raised its position in shares of Stratasys by 51.3% during the 2nd quarter. Values First Advisors Inc. now owns 33,175 shares of the technology company’s stock valued at $278,000 after purchasing an additional 11,254 shares during the period. Verition Fund Management LLC bought a new stake in shares of Stratasys during the 3rd quarter valued at $322,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Stratasys by 510.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,803 shares of the technology company’s stock valued at $563,000 after purchasing an additional 56,699 shares during the period. Hedge funds and other institutional investors own 75.77% of the company’s stock.

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.