Zacks Investment Research upgraded shares of Stratasys, Ltd. (NASDAQ:SSYS) from a hold rating to a buy rating in a research note issued to investors on Friday morning. They currently have $23.00 target price on the technology company’s stock.
According to Zacks, “Stratasys reported mixed results for third-quarter 2017, wherein the bottom line surpassed the Zacks Consensus Estimate but the top line missed the same. Furthermore, although revenues witnessed a marginal fall, earnings improved significantly on a year-over-year basis. We are positive about Stratasys’ turnaround strategies which include launching innovative products, strategic partnerships and acquisitions. 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. Data from the MarketsandMarkets report 2017 revealed that the worldwide 3D printing industry is expected to grow at a CAGR of 25.76% through 2017 to 2023 and reach $32.78 billion by the end of 2023. Notably, the stock has outperformed the industry in the year-to-date period.”
Several other brokerages also recently commented on SSYS. Loop Capital assumed coverage on Stratasys in a report on Monday, July 24th. They set a hold rating and a $24.00 target price on the stock. BidaskClub downgraded Stratasys from a strong-buy rating to a buy rating in a report on Wednesday, August 2nd. Cowen and Company reaffirmed a hold rating and set a $23.00 target price on shares of Stratasys in a report on Sunday, September 17th. Jefferies Group LLC reaffirmed a hold rating and set a $30.00 target price on shares of Stratasys in a report on Friday, August 4th. Finally, ValuEngine downgraded Stratasys from a hold rating to a sell rating in a report on Friday, September 1st. Five analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Stratasys currently has a consensus rating of Hold and an average price target of $24.38.
Shares of Stratasys (SSYS) traded up $0.13 on Friday, reaching $20.98. The company’s stock had a trading volume of 526,672 shares, compared to its average volume of 792,587. The firm has a market cap of $1,110.00, a P/E ratio of 149.86, a PEG ratio of 17.48 and a beta of 1.40. Stratasys has a 52-week low of $16.37 and a 52-week high of $30.88. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.32 and a quick ratio of 2.65.
Stratasys (NASDAQ:SSYS) last announced its earnings results on Tuesday, November 14th. The technology company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.04. The firm had revenue of $155.90 million for the quarter, compared to the consensus estimate of $160.97 million. Stratasys had a positive return on equity of 0.62% and a negative net margin of 6.74%. Stratasys’s revenue was down .8% compared to the same quarter last year. equities research analysts forecast that Stratasys will post 0.06 EPS for the current fiscal year.
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Hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. raised its stake in Stratasys by 64.7% during the 2nd quarter. Baillie Gifford & Co. now owns 377,800 shares of the technology company’s stock worth $8,807,000 after buying an additional 148,400 shares during the period. Canada Pension Plan Investment Board raised its stake in Stratasys by 742.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 32,905 shares of the technology company’s stock worth $767,000 after buying an additional 29,000 shares during the period. Nomura Holdings Inc. acquired a new position in Stratasys during the 2nd quarter worth approximately $227,000. Commerzbank Aktiengesellschaft FI raised its stake in Stratasys by 28.5% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 71,225 shares of the technology company’s stock worth $1,660,000 after buying an additional 15,812 shares during the period. Finally, Royce & Associates LP raised its stake in Stratasys by 2.1% during the 2nd quarter. Royce & Associates LP now owns 461,046 shares of the technology company’s stock worth $10,747,000 after buying an additional 9,400 shares during the period. 65.84% of the stock is currently owned by institutional investors and hedge funds.
Stratasys Company Profile
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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