Lake Street Capital Trims Stratasys (NASDAQ:SSYS) Target Price to $11.00

Stratasys (NASDAQ:SSYS) had its price objective reduced by Lake Street Capital from $15.00 to $11.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities analysts have also recently issued research reports about the company. StockNews.com initiated coverage on Stratasys in a research report on Sunday, August 25th. They set a buy rating for the company. Needham & Company LLC reduced their price objective on Stratasys from $12.00 to $10.00 and set a buy rating for the company in a research report on Friday. Craig Hallum dropped their target price on shares of Stratasys from $16.00 to $14.00 and set a buy rating on the stock in a research report on Monday, July 1st. Finally, Cantor Fitzgerald reduced their price target on shares of Stratasys from $23.00 to $12.00 and set an overweight rating for the company in a report on Friday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of Buy and an average price target of $11.75.

Stratasys Price Performance

NASDAQ SSYS opened at $6.87 on Friday. Stratasys has a fifty-two week low of $6.05 and a fifty-two week high of $15.03. The stock’s 50-day moving average is $8.20 and its two-hundred day moving average is $9.69. The firm has a market cap of $478.56 million, a P/E ratio of -3.75 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last posted its quarterly earnings data on Thursday, August 29th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business 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 18.98% and a negative return on equity of 3.27%. Stratasys’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. On average, equities analysts expect that Stratasys will post -0.28 EPS for the current year.

Hedge Funds Weigh In On Stratasys

A number of hedge funds and other institutional investors have recently made changes to their positions in SSYS. Rubric Capital Management LP raised its stake in Stratasys by 18.2% during the second quarter. Rubric Capital Management LP now owns 5,968,703 shares of the technology company’s stock worth $50,077,000 after acquiring an additional 918,703 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in Stratasys by 9.1% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,694,148 shares of the technology company’s stock valued at $24,192,000 after purchasing an additional 140,841 shares during the last quarter. Douglas Lane & Associates LLC boosted its position in Stratasys by 0.3% in the first quarter. Douglas Lane & Associates LLC now owns 1,346,730 shares of the technology company’s stock valued at $15,649,000 after buying an additional 3,712 shares in the last quarter. Clearline Capital LP bought a new stake in Stratasys during the second quarter worth about $9,301,000. Finally, Pinnacle Associates Ltd. raised its stake in shares of Stratasys by 0.5% in the first quarter. Pinnacle Associates Ltd. now owns 1,055,630 shares of the technology company’s stock valued at $12,266,000 after acquiring an additional 4,991 shares during the last quarter. 75.77% of the stock is owned by institutional investors.

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.