StockNews.com Initiates Coverage on Stratasys (NASDAQ:SSYS)

Posted by on May 19th, 2023

Research analysts at StockNews.com initiated coverage on shares of Stratasys (NASDAQ:SSYS – Get Rating) in a note issued to investors on Friday. The firm set a “buy” rating on the technology company’s stock.

Several other research firms have also weighed in on SSYS. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Stratasys in a report on Friday, March 10th. Lake Street Capital lifted their price target on shares of Stratasys from $20.00 to $22.00 in a research note on Friday, March 3rd. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Stratasys Trading Down 1.7 %

SSYS opened at $15.71 on Friday. Stratasys has a 12-month low of $11.03 and a 12-month high of $21.44. The firm has a market capitalization of $1.07 billion, a PE ratio of -34.91 and a beta of 1.41. The firm has a 50 day moving average of $14.96 and a two-hundred day moving average of $13.96.

Stratasys (NASDAQ:SSYS – Get Rating) last posted its quarterly earnings results on Thursday, March 2nd. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.08. Stratasys had a negative net margin of 4.75% and a negative return on equity of 2.25%. The company had revenue of $159.26 million during the quarter, compared to analyst estimates of $157.21 million. As a group, analysts predict that Stratasys will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Stratasys

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NorthCrest Asset Manangement LLC boosted its position in shares of Stratasys by 4.4% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 19,180 shares of the technology company’s stock valued at $227,000 after acquiring an additional 800 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Stratasys by 73.4% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,103 shares of the technology company’s stock valued at $35,000 after acquiring an additional 890 shares during the last quarter. Citigroup Inc. boosted its position in shares of Stratasys by 2.0% during the 1st quarter. Citigroup Inc. now owns 57,325 shares of the technology company’s stock valued at $948,000 after acquiring an additional 1,148 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Stratasys by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 45,650 shares of the technology company’s stock valued at $658,000 after acquiring an additional 1,213 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Stratasys by 46.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,945 shares of the technology company’s stock valued at $47,000 after acquiring an additional 1,251 shares during the last quarter. Institutional investors and hedge funds own 83.16% of the company’s stock.

About Stratasys

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Stratasys Ltd. engages in the provision of applied additive technology solutions for industries including aerospace, automotive, healthcare, consumer products, and education. Its systems include desktop 3D printers for idea and design development, various systems for rapid prototyping and large production systems for direct digital manufacturing.

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