Latest Stocks: Stratasys’ (SSYS) Underperform Rating Reaffirmed at Bank of America Corp

Latest Stocks: Stratasys’ (SSYS) Underperform Rating Reaffirmed at Bank of America Corp

Bank of America Corp reaffirmed their underperform rating on shares of Stratasys, Ltd. (NASDAQ:SSYS) in a research note issued to investors on Wednesday, May 17th. The brokerage currently has a $20.00 price objective on the technology company’s stock, up from their prior price objective of $17.00.

SSYS has been the topic of a number of other reports. Vetr raised Stratasys from a buy rating to a strong-buy rating and set a $23.15 target price on the stock in a research report on Monday, February 27th. Piper Jaffray Companies upgraded shares of Stratasys from a neutral rating to an overweight rating and raised their price target for the stock from $21.00 to $28.00 in a research note on Monday, April 17th. Jefferies Group LLC restated a buy rating and set a $24.00 price target (down previously from $25.00) on shares of Stratasys in a research note on Saturday, March 11th. Standpoint Research cut shares of Stratasys from a buy rating to a reduce rating in a research note on Monday, April 24th. Finally, Needham & Company LLC restated a buy rating and set a $20.00 price target (down previously from $21.00) on shares of Stratasys in a research note on Saturday, March 11th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Stratasys presently has an average rating of Hold and a consensus target price of $23.93.

Stratasys (SSYS) opened at 27.60 on Wednesday. Stratasys has a 52 week low of $16.37 and a 52 week high of $30.88. The stock’s 50 day moving average price is $26.77 and its 200 day moving average price is $21.38. The firm’s market capitalization is $1.46 billion. Stratasys (NASDAQ:SSYS) last released its earnings results on Tuesday, May 16th. The technology company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. Stratasys had a negative return on equity of 1.54% and a negative net margin of 43.97%. The business had revenue of $163.20 million for the quarter, compared to the consensus estimate of $162.38 million. During the same period last year, the business earned $0.01 earnings per share. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities analysts expect that Stratasys will post $0.28 EPS for the current year.

Stratasys (SSYS) opened at 27.60 on Wednesday. Stratasys has a 52 week low of $16.37 and a 52 week high of $30.88. The stock’s 50 day moving average price is $26.77 and its 200 day moving average price is $21.38. The firm’s market capitalization is $1.46 billion. Hedge funds have recently bought and sold shares of the company. Primecap Management Co. CA raised its stake in Stratasys by 25.6% in the first quarter. Primecap Management Co. CA now owns 6,291,000 shares of the technology company’s stock valued at $128,903,000 after buying an additional 1,281,000 shares in the last quarter. ARK Investment Management LLC acquired a new position in Stratasys during the fourth quarter valued at about $19,125,000. Arrowpoint Asset Management LLC increased its position in Stratasys by 41.0% in the fourth quarter. Arrowpoint Asset Management LLC now owns 1,990,541 shares of the technology company’s stock valued at $32,924,000 after buying an additional 578,502 shares during the last quarter. Royce & Associates LP increased its position in Stratasys by 542.5% in the first quarter. Royce & Associates LP now owns 451,646 shares of the technology company’s stock valued at $9,254,000 after buying an additional 381,346 shares during the last quarter. Finally, Norges Bank acquired a new position in Stratasys during the fourth quarter valued at about $4,187,000. Institutional investors and hedge funds own 59.25% of the company’s stock.

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