Stratasys (NASDAQ:SSYS) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Stratasys (NASDAQ:SSYS) in a research report sent to investors on Tuesday. The firm issued a buy rating on the technology company’s stock.

Other analysts also recently issued reports about the stock. Needham & Company LLC restated a buy rating and issued a $16.00 target price on shares of Stratasys in a report on Tuesday, December 26th. Cantor Fitzgerald assumed coverage on shares of Stratasys in a report on Tuesday, February 13th. They issued an overweight rating and a $24.00 target price on the stock.

Stratasys Price Performance

Shares of Stratasys stock opened at $11.62 on Tuesday. The company’s fifty day simple moving average is $12.66 and its 200-day simple moving average is $12.32. The stock has a market capitalization of $809.45 million, a PE ratio of -6.49 and a beta of 1.30. Stratasys has a 1-year low of $9.95 and a 1-year high of $21.72.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings results on Thursday, March 7th. The technology company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. The company had revenue of $156.34 million for the quarter, compared to the consensus estimate of $153.96 million. Stratasys had a negative net margin of 19.61% and a negative return on equity of 2.28%. Stratasys’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) EPS. As a group, research analysts anticipate that Stratasys will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Stratasys

Hedge funds have recently added to or reduced their stakes in the stock. Rubric Capital Management LP boosted its stake in shares of Stratasys by 366.7% during the fourth quarter. Rubric Capital Management LP now owns 4,250,000 shares of the technology company’s stock valued at $60,690,000 after purchasing an additional 3,339,367 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Stratasys by 8.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,951,611 shares of the technology company’s stock valued at $52,422,000 after purchasing an additional 219,286 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Stratasys by 5.7% during the third quarter. Neuberger Berman Group LLC now owns 2,620,325 shares of the technology company’s stock valued at $37,741,000 after purchasing an additional 140,780 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in shares of Stratasys by 9.1% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,694,148 shares of the technology company’s stock valued at $24,192,000 after purchasing an additional 140,841 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Stratasys by 9.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,386,788 shares of the technology company’s stock valued at $19,803,000 after purchasing an additional 119,922 shares in the last quarter. 75.77% of the stock is currently owned by institutional investors.

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.