Stratasys (NASDAQ:SSYS) Price Target Raised to $15.00

Stratasys (NASDAQ:SSYS) had its target price raised by Craig Hallum from $12.00 to $15.00 in a research report report published on Thursday morning,Benzinga reports. Craig Hallum currently has a buy rating on the technology company’s stock.

Several other research firms also recently weighed in on SSYS. Needham & Company LLC raised their price objective on Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday. Lake Street Capital lowered their price objective on Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Cantor Fitzgerald lowered their price objective on Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Loop Capital decreased their target price on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Finally, StockNews.com assumed coverage on Stratasys in a research report on Monday, September 2nd. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $11.40.

Stratasys Stock Down 1.8 %

Shares of SSYS stock traded down $0.17 during trading hours on Thursday, reaching $9.44. The company’s stock had a trading volume of 240,540 shares, compared to its average volume of 503,579. The firm’s 50 day simple moving average is $7.56 and its 200-day simple moving average is $8.21. The company has a market capitalization of $673.83 million, a price-to-earnings ratio of -7.17 and a beta of 1.21. Stratasys has a fifty-two week low of $6.05 and a fifty-two week high of $14.93.

Stratasys (NASDAQ:SSYS) last issued its earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $138.00 million for the quarter, compared to the consensus estimate of $146.38 million. Stratasys had a negative return on equity of 3.71% and a negative net margin of 16.13%. The company’s revenue was down 13.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) EPS. Sell-side analysts predict that Stratasys will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On Stratasys

A number of hedge funds have recently added to or reduced their stakes in the stock. Invenomic Capital Management LP purchased a new position in shares of Stratasys in the 3rd quarter worth approximately $10,916,000. Clearline Capital LP raised its holdings in shares of Stratasys by 23.3% in 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. Verition Fund Management LLC bought a new stake in shares of Stratasys in the 3rd quarter worth approximately $322,000. Rubric Capital Management LP raised its holdings in shares of Stratasys by 3.7% in the 3rd quarter. Rubric Capital Management LP now owns 6,191,000 shares of the technology company’s stock worth $51,447,000 after purchasing an additional 222,297 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Stratasys by 785.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 129,728 shares of the technology company’s stock worth $1,078,000 after purchasing an additional 115,080 shares during the period. Institutional investors and hedge funds 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.