Stratasys (NASDAQ:SSYS) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Stratasys (NASDAQ:SSYS) in a research note issued to investors on Monday. The brokerage issued a hold rating on the technology company’s stock.

Several other research analysts have also commented on SSYS. Needham & Company LLC decreased their target price on Stratasys from $12.00 to $10.00 and set a buy rating for the company in a research report on Friday, August 30th. Cantor Fitzgerald decreased their price objective on shares of Stratasys from $23.00 to $12.00 and set an overweight rating for the company 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. Finally, Craig Hallum decreased their price target on shares of Stratasys from $16.00 to $14.00 and set a buy rating for the company in a report on Monday, July 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $11.75.

Stratasys Trading Down 5.2 %

Shares of NASDAQ:SSYS opened at $6.61 on Monday. The firm has a market cap of $460.45 million, a PE ratio of -3.58 and a beta of 1.18. The company has a fifty day simple moving average of $8.15 and a 200 day simple moving average of $9.59. Stratasys has a 12-month low of $6.05 and a 12-month high of $14.93.

Stratasys (NASDAQ:SSYS) last released its earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. Stratasys had a negative net margin of 18.98% and a negative return on equity of 3.29%. The company had revenue of $138.00 million during the quarter, compared to the consensus estimate of $146.38 million. During the same quarter in the previous year, the firm earned ($0.08) EPS. The company’s revenue was down 13.6% on a year-over-year basis. As a group, equities research analysts forecast that Stratasys will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Stratasys

Several institutional investors have recently modified their holdings of the company. Rubric Capital Management LP boosted its stake in Stratasys by 18.2% during the 2nd quarter. Rubric Capital Management LP now owns 5,968,703 shares of the technology company’s stock valued at $50,077,000 after purchasing an additional 918,703 shares during the period. Frontier Capital Management Co. LLC boosted its position 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 worth $24,192,000 after buying an additional 140,841 shares during the period. Douglas Lane & Associates LLC grew its holdings in Stratasys by 0.3% in the 1st quarter. Douglas Lane & Associates LLC now owns 1,346,730 shares of the technology company’s stock worth $15,649,000 after buying an additional 3,712 shares in the last quarter. Clearline Capital LP acquired a new stake in Stratasys in the 2nd quarter valued at approximately $9,301,000. Finally, Pinnacle Associates Ltd. raised its stake in Stratasys by 0.5% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,055,630 shares of the technology company’s stock valued at $12,266,000 after acquiring an additional 4,991 shares in the last quarter. 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.