Stratasys (NASDAQ:SSYS) Price Target Cut to $10.00

Stratasys (NASDAQ:SSYS) had its target price cut by equities researchers at Needham & Company LLC from $12.00 to $10.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target points to a potential upside of 45.56% from the stock’s previous close.

SSYS has been the topic of a number of other reports. Craig Hallum cut their price objective on shares of Stratasys from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, July 1st. Cantor Fitzgerald restated an “overweight” rating and set a $23.00 price target on shares of Stratasys in a report on Thursday, May 30th. Finally, StockNews.com initiated coverage on shares of Stratasys in a research note on Sunday, August 25th. They issued a “buy” rating for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $11.75.

Stratasys Stock Performance

Shares of SSYS opened at $6.87 on Friday. The firm has a market capitalization of $478.56 million, a P/E ratio of -3.75 and a beta of 1.21. Stratasys has a 52 week low of $6.05 and a 52 week high of $15.03. The stock has a 50 day moving average price of $8.20 and a two-hundred day moving average price of $9.71.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings results on Wednesday, May 29th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). The business had revenue of $144.05 million during the quarter, compared to the consensus estimate of $147.53 million. Stratasys had a negative return on equity of 2.68% and a negative net margin of 20.38%. On average, equities analysts forecast that Stratasys will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On Stratasys

A number of hedge funds have recently made changes to their positions in SSYS. Crewe Advisors LLC purchased a new stake in Stratasys during the first quarter worth about $61,000. Larson Financial Group LLC grew its position in shares of Stratasys by 2,711.2% during the 1st quarter. Larson Financial Group LLC now owns 9,558 shares of the technology company’s stock valued at $111,000 after acquiring an additional 9,218 shares during the period. Values First Advisors Inc. increased its stake in shares of Stratasys by 51.3% during the 2nd quarter. Values First Advisors Inc. now owns 33,175 shares of the technology company’s stock worth $278,000 after purchasing an additional 11,254 shares during the last quarter. Formidable Asset Management LLC raised its holdings in shares of Stratasys by 21.1% in the 4th quarter. Formidable Asset Management LLC now owns 21,252 shares of the technology company’s stock worth $303,000 after purchasing an additional 3,705 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in Stratasys by 49.0% in the fourth quarter. New York State Common Retirement Fund now owns 32,690 shares of the technology company’s stock valued at $467,000 after purchasing an additional 10,747 shares during the last quarter. 75.77% of the stock is currently 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.