Stratasys, Ltd. (NASDAQ: SSYS), a leading global provider of 3D printing and additive manufacturing solutions, announced that following the successful incubation, it has spun off its “Bold Machines” unit. The new-product incubation company is run by MakerBot founder, Bre Pettis.
Bold Machines is a workshop that helps customers innovate and bring their ideas to life with the help of 3D printing. Since the division was launched, Bold Machines has helped dozens of innovators accelerate their design process.
Bold Machines is the brainchild of — and was launched by — Bre Pettis as a unit of Stratasys in 2014. The company offers new approaches to industrial and personal design and fabrication. It has helped product designers overcome challenges in a variety of industries from Bionic limb design, to film animation support, to new architectural concept creation.
“I have built tools that empower other people to build products for the last decade, and I’m excited to jump over the fence and build products myself,” says Pettis. “With a strong passion for innovation and the future of product design, we will begin a new chapter with Bold Machines. We believe that by changing the way things are made, 3D printing will have incalculable impact on our lives and our future.”
“It’s important to have entities such as Bold Machines to advance the adoption of 3D printing and make it more accessible,” says David Reis, Chief Executive Officer at Stratasys. “Bre is a visionary and has an unceasing desire to answer the question ‘What’s Next?’ I look forward to a continued close-working relationship with Bre.”
“Stratasys will continue to innovate new products, as well as work with its partners and customers to pioneer ground-breaking applications, to make 3D printing more accessible and widely adopted,” concluded Reis.
Bold Machines will continue to explore the frontier of product manufacturing using Stratasys 3D Printers. This includes 3D printers from the PolyJet, Fortus, Solidscape, and MakerBot product lines. (Original Source)
Shares of Stratasys closed last Friday at $35.33 . SSYS has a 1-year high of $130.83 and a 1-year low of $33.85. The stock’s 50-day moving average is $36.96 and its 200-day moving average is $60.98.
On the ratings front, Stratasys has been the subject of a number of recent research reports. In a report issued on June 9, Brean Murray Carret analyst Ananda Baruah maintained a Hold rating on SSYS. Separately, on the same day, Deutsche Bank’s Sherri Scribner maintained a Buy rating on the stock and has a price target of $50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ananda Baruah and Sherri Scribner have a total average return of -0.6% and 4.9% respectively. Baruah has a success rate of 44.4% and is ranked #2906 out of 3624 analysts, while Scribner has a success rate of 57.7% and is ranked #1270.
In total, 7 research analysts have assigned a Hold rating and 5 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $50.50 which is 42.9% above where the stock closed last Friday.
Stratasys Ltd provides additive manufacturing solutions for the creation of parts used in the processes of designing and manufacturing products and for the direct manufacture of end parts. It offers 3D printers and 3D production systems.