Stratasys Receives a Hold from B.Riley FBR

By Austin Angelo

B.Riley FBR analyst Christopher Van Horn assigned a Hold rating to Stratasys (NASDAQ: SSYS) today and set a price target of $30. The company’s shares opened today at $22.06.

Van Horn noted:

“SSYS (Neutral, $30 PT) reported 3Q17 results on November 14 that were ahead of our expectations from a profitability standpoint in large part due to lower OpEx spend during the quarter. Still, revenue was lighter than expected and the company noted on its conference call that the environment has gotten a little more competitive overall recently (in line with our recent thoughts on the space. The market has been weighing all this and while SSYS traded as much as +17% this morning, shares have been trading lower since and are as of midday around the +1% level (versus the S&P 500 down about 0.2%). Importantly, we see reason for pressure as the sense in the market that the overall competitive environment in 3D printing may be a We think that DDD (Sell, $7 PT) could see downside in sentiment around the lower revenue figures reported by SSYS as well.”

According to TipRanks.com, Horn is a 4-star analyst with an average return of 8.9% and a 61.8% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Motorcar Parts Of America, Standard Motor Products, and Harman International.

Stratasys has an analyst consensus of Moderate Buy, with a price target consensus of $26.50.

The company has a one-year high of $30.88 and a one-year low of $16.37. Currently, Stratasys has an average volume of 704.4K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Stratasys Ltd. engages in the provision of additive manufacturing solutions for the production of parts used in the process of designing and manufacturing products for the manufacturer of end parts. Its systems include desktop 3D printers for idea and design development, various systems for rapid prototyping and large production systems for direct digital manufacturing. The company also develops, manufactures and sells materials for use with its systems and provides related service offerings to its customers. Stratasys was founded on March 3, 1998 and is headquartered in Eden Prairie, MN.