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Sep 02, 2023

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

Equities researchers at StockNews.com began coverage on shares of Stratasys (NASDAQ:SSYS - Get Free Report) in a report issued on Thursday. The brokerage set a "buy" rating on the technology company's

Equities researchers at StockNews.com began coverage on shares of Stratasys (NASDAQ:SSYS - Get Free Report) in a report issued on Thursday. The brokerage set a "buy" rating on the technology company's stock.

Separately, Needham & Company LLC restated a "buy" rating and issued a $19.00 price objective on shares of Stratasys in a research note on Thursday, August 10th.

View Our Latest Stock Analysis on SSYS

Shares of SSYS stock opened at $14.35 on Thursday. Stratasys has a 52-week low of $11.03 and a 52-week high of $21.72. The stock has a market cap of $981.54 million, a price-to-earnings ratio of -22.08 and a beta of 1.45. The firm has a fifty day moving average of $17.20 and a 200-day moving average of $15.79.

Stratasys (NASDAQ:SSYS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 9th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.05. Stratasys had a negative net margin of 7.05% and a negative return on equity of 2.02%. The company had revenue of $159.75 million during the quarter, compared to analysts' expectations of $153.24 million. On average, sell-side analysts predict that Stratasys will post -0.25 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the company. Legato Capital Management LLC increased its position in shares of Stratasys by 39.5% during the 2nd quarter. Legato Capital Management LLC now owns 64,250 shares of the technology company's stock worth $1,141,000 after purchasing an additional 18,200 shares in the last quarter. Vestcor Inc bought a new stake in Stratasys during the 2nd quarter worth about $490,000. Cowen Investment Management LLC bought a new stake in Stratasys during the 2nd quarter worth about $884,000. Gamco Investors INC. ET AL bought a new stake in Stratasys during the 2nd quarter worth about $353,000. Finally, Goldman Sachs Group Inc. grew its holdings in Stratasys by 233.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 90,107 shares of the technology company's stock worth $1,600,000 after acquiring an additional 63,099 shares during the last quarter. Institutional investors and hedge funds own 72.65% of the company's stock.

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 SAF printer for manufacturing, tooling and rapid prototyping, and various vertical markets, such as automotive, aerospace, consumer products and healthcare.

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