Needham & Company LLC Forecasts Strong Price Appreciation for Stratasys (NASDAQ:SSYS) Stock

Stratasys (NASDAQ:SSYS - Get Free Report) had its price objective boosted by equities research analysts at Needham & Company LLC from $12.00 to $13.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Needham & Company LLC's price objective would suggest a potential upside of 36.70% from the company's current price.

A number of other brokerages also recently commented on SSYS. Cantor Fitzgerald lifted their target price on Stratasys from $12.00 to $15.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. StockNews.com downgraded shares of Stratasys from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Finally, Craig Hallum raised their target price on shares of Stratasys from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.20.

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Stratasys Trading Down 3.3 %

Shares of NASDAQ SSYS traded down $0.32 during trading on Thursday, reaching $9.51. The company had a trading volume of 647,951 shares, compared to its average volume of 568,940. The stock has a market capitalization of $678.80 million, a PE ratio of -7.20 and a beta of 1.28. The stock has a 50-day moving average price of $10.25 and a two-hundred day moving average price of $8.93. Stratasys has a twelve month low of $6.05 and a twelve month high of $12.88.

Stratasys (NASDAQ:SSYS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.01. The firm had revenue of $150.40 million during the quarter, compared to the consensus estimate of $151.01 million. Stratasys had a negative return on equity of 3.75% and a negative net margin of 16.13%. The firm's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 earnings per share. On average, sell-side analysts predict that Stratasys will post -0.4 EPS for the current year.

Hedge Funds Weigh In On Stratasys

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSYS. Headlands Technologies LLC bought a new stake in shares of Stratasys in the fourth quarter valued at approximately $68,000. Teton Advisors Inc. bought a new position in Stratasys during the 4th quarter valued at about $89,000. SBI Securities Co. Ltd. acquired a new position in Stratasys in the fourth quarter valued at about $90,000. Quantbot Technologies LP bought a new stake in Stratasys during the third quarter worth about $90,000. Finally, Hsbc Holdings PLC grew its position in Stratasys by 10.4% during the 4th quarter. Hsbc Holdings PLC now owns 16,664 shares of the technology company's stock worth $148,000 after acquiring an additional 1,564 shares during the last quarter. 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.