Loop Capital Cuts Stratasys (NASDAQ:SSYS) Price Target to $7.00

Stratasys (NASDAQ:SSYS) had its price target decreased by Loop Capital from $9.00 to $7.00 in a report published on Thursday, Benzinga reports. Loop Capital currently has a hold rating on the technology company’s stock.

Several other research firms have also recently weighed in on SSYS. Needham & Company LLC reduced their target price on shares of Stratasys from $12.00 to $10.00 and set a buy rating for the company in a research note on Friday, August 30th. StockNews.com initiated coverage on shares of Stratasys in a research note on Monday, September 2nd. They issued a hold rating for the company. Craig Hallum reduced their target price on shares of Stratasys from $16.00 to $14.00 and set a buy rating for the company in a research note on Monday, July 1st. Cantor Fitzgerald reduced their target price on shares of Stratasys from $23.00 to $12.00 and set an overweight rating for the company in a research note on Friday, August 30th. Finally, Lake Street Capital reduced their target price on shares of Stratasys from $15.00 to $11.00 and set a buy rating for the company in a research note on Friday, August 30th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Stratasys has an average rating of Moderate Buy and an average target price of $10.80.

Stratasys Stock Performance

Shares of NASDAQ:SSYS opened at $6.16 on Thursday. The company has a market cap of $429.08 million, a P/E ratio of -3.37 and a beta of 1.18. The stock’s 50-day moving average is $8.03 and its 200-day moving average is $9.48. Stratasys has a 52-week low of $6.05 and a 52-week high of $14.93.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $138.00 million for the quarter, compared to the consensus estimate of $146.38 million. Stratasys had a negative return on equity of 3.29% and a negative net margin of 18.98%. The firm’s revenue was down 13.6% compared to the same quarter last year. During the same period last year, the business posted ($0.08) earnings per share. As a group, equities analysts predict that Stratasys will post -0.44 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new stake in shares of Stratasys during the first quarter worth approximately $61,000. Larson Financial Group LLC increased its holdings in shares of Stratasys by 2,711.2% during the first quarter. Larson Financial Group LLC now owns 9,558 shares of the technology company’s stock worth $111,000 after buying an additional 9,218 shares in the last quarter. Values First Advisors Inc. increased its holdings in shares of Stratasys by 51.3% during the second quarter. Values First Advisors Inc. now owns 33,175 shares of the technology company’s stock worth $278,000 after buying an additional 11,254 shares in the last quarter. Formidable Asset Management LLC increased its holdings in shares of Stratasys by 21.1% during the fourth quarter. Formidable Asset Management LLC now owns 21,252 shares of the technology company’s stock worth $303,000 after buying an additional 3,705 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Stratasys by 49.0% during the fourth quarter. New York State Common Retirement Fund now owns 32,690 shares of the technology company’s stock worth $467,000 after buying an additional 10,747 shares in the last quarter. 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.