Zacks Investment Research upgraded shares of Stratasys, Ltd. (NASDAQ:SSYS) from a hold rating to a buy rating in a research report released on Wednesday morning. Zacks Investment Research currently has $27.00 target price on the technology company’s stock.
According to Zacks, “Stratasys is one of the leading 3D printing solution providers. Estimates for the stock have remained stable off late. It seems that Stratasys’ turnaround strategies which include launching innovative products, strategic partnerships and acquisitions, are paying off as evident from its last quarterly results. The company’s sustained focus on launching new products and entering into strategic partnerships will drive long-term growth. The initiatives will help Stratasys to gain more market share as the prospect of 3D printing industry appears bright. However, the company’s tepid outlook for 2017 makes us slightly cautious about its near-term prospect. Moreover, some customers are delaying their purchases owing to the current economic conditions. The stock has underperformed the broader market in the last one year period.”
Several other brokerages also recently commented on SSYS. Bank of America Corporation reissued an underperform rating and set a $20.00 target price (up previously from $17.00) on shares of Stratasys in a research note on Wednesday, May 17th. Needham & Company LLC downgraded Stratasys from a buy rating to a hold rating in a research note on Wednesday, May 17th. Cowen and Company reaffirmed a market perform rating and issued a $27.00 price objective (up previously from $18.00) on shares of Stratasys in a research note on Wednesday, May 17th. FBR & Co reaffirmed an outperform rating and issued a $33.00 price objective (up previously from $24.00) on shares of Stratasys in a research note on Wednesday, May 17th. Finally, William Blair downgraded Stratasys from a market perform rating to an underperform rating in a research note on Monday, May 15th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $23.65.
Stratasys (NASDAQ:SSYS) traded down 0.96% during midday trading on Wednesday, reaching $23.77. 154,632 shares of the company’s stock traded hands. The company’s market cap is $1.25 billion. The stock has a 50-day moving average of $27.39 and a 200 day moving average of $22.32. Stratasys has a 52-week low of $16.37 and a 52-week high of $30.88.
Stratasys (NASDAQ:SSYS) last issued its earnings results on Tuesday, May 16th. The technology company reported $0.05 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. The firm had revenue of $163.20 million during the quarter, compared to the consensus estimate of $162.38 million. Stratasys had a negative return on equity of 0.03% and a negative net margin of 10.17%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 earnings per share. On average, analysts anticipate that Stratasys will post $0.28 earnings per share for the current fiscal year.
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Several institutional investors have recently modified their holdings of the company. AXA boosted its position in shares of Stratasys by 34.4% in the first quarter. AXA now owns 561,397 shares of the technology company’s stock worth $11,503,000 after buying an additional 143,741 shares in the last quarter. State Street Corp boosted its position in shares of Stratasys by 2.5% in the fourth quarter. State Street Corp now owns 811,176 shares of the technology company’s stock worth $13,417,000 after buying an additional 19,694 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Stratasys by 25.6% in the first quarter. Primecap Management Co. CA now owns 6,291,000 shares of the technology company’s stock worth $128,903,000 after buying an additional 1,281,000 shares in the last quarter. Norges Bank purchased a new position in shares of Stratasys during the fourth quarter worth about $4,187,000. Finally, Westside Investment Management Inc. boosted its position in shares of Stratasys by 11.5% in the first quarter. Westside Investment Management Inc. now owns 39,525 shares of the technology company’s stock worth $789,000 after buying an additional 4,070 shares in the last quarter. Institutional investors own 67.16% of the company’s stock.
Stratasys, Inc is a manufacturer of three-dimensional (3D) printers and rapid prototyping (RP) systems for the office-based RP and direct digital manufacturing (DDM) markets. The Company develops, manufactures and sells a product line of 3D printers and DDM systems (and related consumable materials) that create physical models from computer-aided design (CAD) designs.
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