Needham & Company LLC Reaffirms “Buy” Rating for Stratasys (NASDAQ:SSYS)

Stratasys (NASDAQ:SSYS)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports. They currently have a $12.00 price objective on the technology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 28.89% from the company’s previous close.

A number of other brokerages have also recently commented on SSYS. Craig Hallum lifted their target price on shares of Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 14th. StockNews.com raised shares of Stratasys from a “hold” rating to a “buy” rating in a report on Wednesday, December 25th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Stratasys currently has an average rating of “Moderate Buy” and a consensus target price of $11.40.

Stratasys Trading Down 0.9 %

SSYS stock opened at $9.31 on Monday. Stratasys has a twelve month low of $6.05 and a twelve month high of $13.98. The company’s 50 day moving average is $9.44 and its two-hundred day moving average is $8.36. The stock has a market cap of $664.55 million, a P/E ratio of -7.05 and a beta of 1.31.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The company had revenue of $140.00 million for the quarter, compared to analysts’ expectations of $139.49 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The firm’s revenue for the quarter was down 13.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) earnings per share. On average, equities research analysts predict that Stratasys will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On Stratasys

Several institutional investors have recently bought and sold shares of SSYS. Quantbot Technologies LP acquired a new position in Stratasys in the 3rd quarter valued at $90,000. Stifel Financial Corp increased its stake in Stratasys by 24.7% in the 3rd quarter. Stifel Financial Corp now owns 23,206 shares of the technology company’s stock valued at $193,000 after buying an additional 4,600 shares during the period. Point72 Asset Management L.P. acquired a new position in Stratasys in the 3rd quarter valued at $210,000. Verition Fund Management LLC acquired a new position in Stratasys in the 3rd quarter valued at $322,000. Finally, Tidal Investments LLC increased its stake in Stratasys by 4.6% in the 3rd 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 during the period. 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.