Needham & Company LLC Reiterates Buy Rating for Stratasys (NASDAQ:SSYS)

Stratasys (NASDAQ:SSYS)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports. They presently have a $12.00 target price on the technology company’s stock. Needham & Company LLC’s price target indicates a potential downside of 3.61% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Craig Hallum increased their target price on shares of Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. StockNews.com raised shares of Stratasys from a “hold” rating to a “buy” rating in a research note on Wednesday, December 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.40.

Stratasys Stock Up 10.1 %

Shares of NASDAQ:SSYS opened at $12.45 on Monday. Stratasys has a fifty-two week low of $6.05 and a fifty-two week high of $13.98. The company has a market cap of $888.68 million, a PE ratio of -9.43 and a beta of 1.31. The company’s 50-day moving average price is $9.47 and its 200 day moving average price is $8.37.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.05. Stratasys had a negative return on equity of 3.75% and a negative net margin of 16.13%. The business had revenue of $140.00 million during the quarter, compared to the consensus estimate of $139.49 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The business’s revenue was down 13.6% on a year-over-year basis. As a group, equities analysts anticipate that Stratasys will post -0.4 EPS for the current year.

Institutional Investors Weigh In On Stratasys

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its stake in shares of Stratasys by 1.4% in the 3rd quarter. State Street Corp now owns 105,578 shares of the technology company’s stock worth $877,000 after purchasing an additional 1,500 shares during the last quarter. Barclays PLC grew its position in Stratasys by 1.9% in the third quarter. Barclays PLC now owns 80,454 shares of the technology company’s stock worth $669,000 after buying an additional 1,525 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Stratasys by 4.6% in the third quarter. Tidal Investments LLC now owns 56,176 shares of the technology company’s stock valued at $467,000 after buying an additional 2,483 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Stratasys by 0.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock valued at $8,731,000 after acquiring an additional 3,791 shares during the last quarter. Finally, ARK Investment Management LLC boosted its stake in shares of Stratasys by 0.7% during the 3rd quarter. ARK Investment Management LLC now owns 647,221 shares of the technology company’s stock worth $5,378,000 after acquiring an additional 4,589 shares in the last quarter. 75.77% of the stock is owned by institutional investors and hedge funds.

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.