StockNews.com Upgrades Stratasys (NASDAQ:SSYS) to Buy

Stratasys (NASDAQ:SSYS) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

SSYS has been the subject of a number of other research reports. Needham & Company LLC increased their price objective on shares of Stratasys from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Craig Hallum boosted their price objective on Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Lake Street Capital decreased their target price on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Loop Capital dropped their target price on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Finally, Cantor Fitzgerald reduced their price target on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.40.

Stratasys Trading Up 1.3 %

SSYS stock traded up $0.12 during midday trading on Wednesday, hitting $9.38. 321,792 shares of the company’s stock were exchanged, compared to its average volume of 524,181. Stratasys has a 1-year low of $6.05 and a 1-year high of $14.93. The business has a 50-day simple moving average of $8.83 and a two-hundred day simple moving average of $8.25. The stock has a market capitalization of $669.53 million, a PE ratio of -7.11 and a beta of 1.31.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.05. The firm had revenue of $140.00 million for 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% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) EPS. As a group, research analysts expect that Stratasys will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Stratasys

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP purchased a new stake in shares of Stratasys during the third quarter worth approximately $90,000. Stifel Financial Corp grew its holdings in Stratasys by 24.7% during the 3rd quarter. Stifel Financial Corp now owns 23,206 shares of the technology company’s stock worth $193,000 after acquiring an additional 4,600 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Stratasys in the 3rd quarter valued at approximately $210,000. Verition Fund Management LLC acquired a new stake in shares of Stratasys in the 3rd quarter valued at $322,000. Finally, Tidal Investments LLC lifted its position in shares of Stratasys by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 56,176 shares of the technology company’s stock worth $467,000 after purchasing an additional 2,483 shares during the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.

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.