Stratasys (NASDAQ:SSYS) Price Target Raised to $13.00 at Needham & Company LLC

Stratasys (NASDAQ:SSYS) had its target price lifted by Needham & Company LLC from $12.00 to $13.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other brokerages also recently weighed in on SSYS. Craig Hallum raised their price target 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. Cantor Fitzgerald lifted their target price on Stratasys from $12.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, StockNews.com downgraded Stratasys from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.20.

Stratasys Trading Down 5.9 %

Shares of NASDAQ:SSYS opened at $9.74 on Thursday. Stratasys has a 12-month low of $6.05 and a 12-month high of $12.88. The stock has a market capitalization of $695.22 million, a price-to-earnings ratio of -7.38 and a beta of 1.31. The stock has a fifty day simple moving average of $10.24 and a two-hundred day simple moving average of $8.90.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $150.40 million for the quarter, compared to analysts’ expectations of $151.01 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. Stratasys’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 EPS. As a group, equities research analysts predict that Stratasys will post -0.4 EPS for the current year.

Hedge Funds Weigh In On Stratasys

A number of institutional investors and hedge funds have recently modified their holdings of SSYS. Headlands Technologies LLC bought a new position in Stratasys in the fourth quarter valued at about $68,000. Teton Advisors Inc. purchased a new stake in shares of Stratasys during the 4th quarter valued at about $89,000. Quantbot Technologies LP bought a new position in shares of Stratasys in the 3rd quarter worth approximately $90,000. SBI Securities Co. Ltd. purchased a new position in shares of Stratasys in the fourth quarter worth approximately $90,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of Stratasys by 10.4% in the fourth quarter. Hsbc Holdings PLC now owns 16,664 shares of the technology company’s stock worth $148,000 after buying an additional 1,564 shares during the last quarter. 75.77% of the stock is currently owned by hedge funds and other institutional investors.

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.