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

Stratasys (NASDAQ:SSYS)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a report released on Monday,Benzinga reports. They presently have a $12.00 price target on the technology company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 28.89% from the stock’s current price.

Several other research firms have also commented on SSYS. Craig Hallum raised their price objective on shares of Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. StockNews.com raised shares of Stratasys from a “hold” rating to a “buy” rating in a research note on Wednesday, December 25th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Stratasys currently has a consensus rating of “Moderate Buy” and an average price target of $11.40.

Stratasys Trading Down 0.9 %

Stratasys stock opened at $9.31 on Monday. Stratasys has a 12-month low of $6.05 and a 12-month high of $13.98. The stock has a market cap of $664.55 million, a P/E ratio of -7.05 and a beta of 1.31. The company has a 50-day moving average price of $9.44 and a 200 day moving average price of $8.36.

Stratasys (NASDAQ:SSYS) last announced its earnings results on Wednesday, November 13th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.05. The company had revenue of $140.00 million during the quarter, compared to analyst estimates of $139.49 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 quarter last year, the firm posted ($0.05) earnings per share. As a group, analysts forecast that Stratasys will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SSYS. Pinnacle Associates Ltd. lifted its stake in Stratasys by 0.4% in the third quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock worth $8,731,000 after acquiring an additional 3,791 shares during the last quarter. ARK Investment Management LLC lifted its stake in Stratasys by 0.7% in the third quarter. ARK Investment Management LLC now owns 647,221 shares of the technology company’s stock worth $5,378,000 after acquiring an additional 4,589 shares during the last quarter. RPG Investment Advisory LLC lifted its stake in Stratasys by 29.6% in the third quarter. RPG Investment Advisory LLC now owns 659,996 shares of the technology company’s stock worth $5,485,000 after acquiring an additional 150,891 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Stratasys by 510.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,803 shares of the technology company’s stock worth $563,000 after acquiring an additional 56,699 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Stratasys in the third quarter worth approximately $90,000. Hedge funds and other institutional investors 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.