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

Stratasys (NASDAQ:SSYS) had its price target boosted by research analysts at Needham & Company LLC from $12.00 to $13.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 32.25% from the company’s previous close.

A number of other equities research analysts have also recently commented on SSYS. StockNews.com cut shares of Stratasys from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Craig Hallum lifted their price objective on shares of Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Cantor Fitzgerald lifted their price objective on shares of Stratasys from $12.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.20.

Stratasys Stock Up 0.9 %

Shares of NASDAQ SSYS opened at $9.83 on Thursday. The company has a market capitalization of $701.65 million, a PE ratio of -7.45 and a beta of 1.31. The firm has a fifty day simple moving average of $10.25 and a 200 day simple moving average of $8.92. Stratasys has a twelve month low of $6.05 and a twelve month high of $12.88.

Stratasys (NASDAQ:SSYS) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $150.40 million during 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%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the company posted $0.02 earnings per share. As a group, equities analysts expect that Stratasys will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SSYS. ARK Investment Management LLC lifted its position in shares of Stratasys by 0.7% during the third quarter. ARK Investment Management LLC now owns 647,221 shares of the technology company’s stock valued at $5,378,000 after purchasing an additional 4,589 shares in the last quarter. RPG Investment Advisory LLC lifted its position in shares of Stratasys by 29.6% during the third quarter. RPG Investment Advisory LLC now owns 659,996 shares of the technology company’s stock valued at $5,485,000 after purchasing an additional 150,891 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Stratasys by 510.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,803 shares of the technology company’s stock valued at $563,000 after purchasing an additional 56,699 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Stratasys during the third quarter valued at about $90,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Stratasys by 785.6% during the third quarter. BNP Paribas Financial Markets now owns 129,728 shares of the technology company’s stock valued at $1,078,000 after purchasing an additional 115,080 shares in the last quarter. 75.77% of the stock is owned by 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.