Stratasys (NASDAQ:SSYS) Price Target Cut to $14.00

Stratasys (NASDAQ:SSYS) had its price target lowered by equities researchers at Craig Hallum from $16.00 to $14.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Craig Hallum’s price objective would indicate a potential upside of 68.07% from the stock’s current price.

SSYS has been the topic of a number of other research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 target price on shares of Stratasys in a research note on Thursday, May 30th. StockNews.com started coverage on Stratasys in a research note on Sunday. They issued a “buy” rating on the stock. Finally, Needham & Company LLC cut their price target on Stratasys from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th.

Stratasys Stock Performance

NASDAQ SSYS opened at $8.33 on Monday. The stock has a 50 day moving average price of $9.09 and a 200-day moving average price of $11.30. Stratasys has a one year low of $8.02 and a one year high of $21.72. The company has a market capitalization of $580.27 million, a P/E ratio of -4.55 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings results on Wednesday, May 29th. The technology company reported ($0.15) earnings per share for the quarter, meeting the consensus estimate of ($0.15). Stratasys had a negative return on equity of 2.68% and a negative net margin of 20.38%. The company had revenue of $144.05 million for the quarter, compared to analyst estimates of $147.53 million. As a group, equities analysts predict that Stratasys will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Stratasys

Several institutional investors have recently added to or reduced their stakes in SSYS. Rubric Capital Management LP increased its position in shares of Stratasys by 366.7% in the fourth quarter. Rubric Capital Management LP now owns 4,250,000 shares of the technology company’s stock valued at $60,690,000 after buying an additional 3,339,367 shares in the last quarter. Norges Bank acquired a new stake in shares of Stratasys in the fourth quarter worth approximately $6,706,000. TSP Capital Management Group LLC boosted its stake in shares of Stratasys by 71.2% in the fourth quarter. TSP Capital Management Group LLC now owns 426,400 shares of the technology company’s stock worth $6,089,000 after acquiring an additional 177,350 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in shares of Stratasys by 9.1% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,694,148 shares of the technology company’s stock worth $24,192,000 after acquiring an additional 140,841 shares during the last quarter. Finally, Douglas Lane & Associates LLC boosted its stake in shares of Stratasys by 10.5% in the fourth quarter. Douglas Lane & Associates LLC now owns 1,343,018 shares of the technology company’s stock worth $19,178,000 after acquiring an additional 127,330 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.