Stratasys Receives New Coverage from Analysts at Bank of America Corp. (SSYS)
Equities researchers at Bank of America Corp. began coverage on shares of Stratasys (NASDAQ:SSYS) in a research report issued on Monday, Analyst Ratings.Net reports. The firm set a “buy” rating and a $116.00 price target on the stock. Bank of America Corp.’s target price would suggest a potential upside of 16.59% from the stock’s previous close.
The analysts wrote, “We are initiating coverage on Stratasys with a Buy rating and price objective of $116. In our opinion, the 3D printing space has a rapidly growing TAM (22% CAGE through 2017) and Stratasys (58% unit share) with its acquisitions of Objet and Makerbot uniquely addresses a broad spectrum of end markets at all price points. The market remains an early stage opportunity with significant growth, in our view.”
Stratasys (NASDAQ:SSYS) opened at 99.492 on Monday. Stratasys has a one year low of $53.53 and a one year high of $113.49. The stock has a 50-day moving average of $100.8 and a 200-day moving average of $85.89. The company’s market cap is $3.882 billion. Stratasys also saw some unusual options trading activity on Friday. Investors purchased 2,601 put options on the stock. This is an increase of approximately 111% compared to the typical volume of 1,233 put options.
Stratasys (NASDAQ:SSYS) last released its earnings data on Thursday, August 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The company had revenue of $106.49 million for the quarter, compared to the consensus estimate of $105.46 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 115.5% on a year-over-year basis. On average, analysts predict that Stratasys will post $1.86 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on SSYS. Analysts at Credit Suisse initiated coverage on shares of Stratasys (NASDAQ:SSYS) in a research note to investors on Tuesday, September 17th. They set a “neutral” rating and a $103.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Stratasys (NASDAQ:SSYS) from $95.00 to $101.50 in a research note to investors on Monday, September 16th. They now have a “neutral” rating on the stock. Finally, analysts at Brean Capital reiterated a “buy” rating on shares of Stratasys (NASDAQ:SSYS) in a research note to investors on Wednesday, September 4th.
One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Stratasys presently has an average rating of “Hold” and a consensus price target of $94.50.
Stratasys, Inc is a manufacturer of three-dimensional (NASDAQ:SSYS) printers and rapid prototyping (RP) systems for the office-based RP and direct digital manufacturing (DDM) markets.
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