Brean Capital analyst Ananda Baruah weighed in today with a few insights on Stratasys, Ltd. (NASDAQ:SSYS), after attending the company’s Analyst Event in Tel Aviv, Israel. Baruah rates Stratasys a Hold, without suggesting a price target. Shares of Stratasys closed today at $37.05, down $0.01 or 0.01%.
Baruah observed, “While the industry has clearly hit a demand soft patch, CEO David Reis offered a compelling anecdote to how nascent market adoption remains when he stated that Solid Concepts (a SSYS Service Bureau and the largest in North America) recently asserted that just 7% of its customers own their own 3D Printer. Additionally, SSYS disclosed it has new printer platforms that it is working on that will provide capabilities more robust than the anticipated HP (HPQ $32.69, Buy) technology and that it is aimed at manufacturing.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ananda Baruah has a total average return of -0.9% and a 41.5% success rate. Baruah has a -22.4% average return when recommending SSYS, and is ranked #2996 out of 3619 analysts.
Out of the 20 analysts polled by TipRanks, 12 rate Stratasys stock a Hold, while 8 rate the stock a Buy. With a return potential of 36.7%, the stock’s consensus target price stands at $$50.69.