Stratasys (NASDAQ:SSYS) Price Target Raised to $12.00

Stratasys (NASDAQ:SSYS) had its target price boosted by Needham & Company LLC from $10.00 to $12.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other equities research analysts have also recently commented on the company. Cantor Fitzgerald decreased their price target on Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Loop Capital decreased their price objective on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. 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 research report on Friday, August 30th. Finally, StockNews.com initiated coverage on shares of Stratasys in a report on Monday, September 2nd. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.40.

Stratasys Stock Performance

NASDAQ:SSYS opened at $9.26 on Thursday. The company’s 50-day simple moving average is $7.62 and its 200-day simple moving average is $8.20. Stratasys has a fifty-two week low of $6.05 and a fifty-two week high of $14.93.

Stratasys (NASDAQ:SSYS) last announced its earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $138.00 million during the quarter, compared to the consensus estimate of $146.38 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. Stratasys’s revenue was down 13.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) earnings per share. On average, sell-side analysts predict that Stratasys will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stratasys

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Rubric Capital Management LP increased its stake in shares of Stratasys by 3.7% in the third quarter. Rubric Capital Management LP now owns 6,191,000 shares of the technology company’s stock worth $51,447,000 after acquiring an additional 222,297 shares during the period. Clearline Capital LP grew its position in Stratasys by 23.3% during the 3rd quarter. Clearline Capital LP now owns 1,367,226 shares of the technology company’s stock worth $11,362,000 after purchasing an additional 258,603 shares during the period. Invenomic Capital Management LP purchased a new position in shares of Stratasys during the 3rd quarter valued at about $10,916,000. Pinnacle Associates Ltd. raised its stake 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 buying an additional 3,791 shares during the last quarter. Finally, State of Michigan Retirement System lifted its holdings in shares of Stratasys by 17.2% in the 2nd quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company’s stock valued at $6,859,000 after buying an additional 120,000 shares during the period. Institutional investors and hedge funds 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.