Stratasys (NASDAQ:SSYS) Price Target Raised to $13.00

Stratasys (NASDAQ:SSYS) had its price target boosted by Needham & Company LLC from $12.00 to $13.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other analysts have also weighed in on the company. Craig Hallum increased their price objective on Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald increased their price objective on Stratasys from $12.00 to $15.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Finally, StockNews.com lowered Stratasys from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Stratasys presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.20.

Stratasys Price Performance

Shares of SSYS opened at $9.83 on Thursday. The firm has a market cap of $701.65 million, a P/E ratio of -7.45 and a beta of 1.28. The stock has a 50 day simple moving average of $10.25 and a two-hundred day simple moving average of $8.93. Stratasys has a 1 year low of $6.05 and a 1 year high of $12.88.

Stratasys (NASDAQ:SSYS) last issued its earnings results on Wednesday, March 5th. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $150.40 million during the quarter, compared to analyst estimates of $151.01 million. Stratasys had a negative return on equity of 3.75% and a negative net margin of 16.13%. Stratasys’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 earnings per share. On average, equities analysts anticipate that Stratasys will post -0.4 earnings per share for the current year.

Institutional Trading of Stratasys

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SSYS. Headlands Technologies LLC bought a new position in Stratasys in the fourth quarter worth $68,000. Teton Advisors Inc. purchased a new position in Stratasys in the fourth quarter worth about $89,000. SBI Securities Co. Ltd. purchased a new position in Stratasys in the fourth quarter worth about $90,000. Quantbot Technologies LP purchased a new position in shares of Stratasys during the 3rd quarter valued at about $90,000. Finally, Hsbc Holdings PLC lifted its position in shares of Stratasys by 10.4% during the 4th quarter. Hsbc Holdings PLC now owns 16,664 shares of the technology company’s stock valued at $148,000 after buying an additional 1,564 shares in the last quarter. 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.