Stratasys, Ltd. (NASDAQ:SSYS), a global leader of 3D printing and additive manufacturing solutions announced it has acquired a key German channel partner, RTC Rapid Technologies GmbH. This transaction aims to strengthen the company’s presence in the important German Speaking Countries (GSC) region of Germany, Switzerland and Austria and aligns with Stratasys’ growth strategy for the region.
Following the acquisition, Stratasys will continue to offer the full suite of Stratasys 3D printing solutions and services to the installed base of RTC Rapid Technologies and will work with its regional resellers to further capitalize on growth opportunities in selected verticals in the region.
Stratasys and RTC Rapid Technologies have experienced a mutually beneficial partnership since 2003, with RTC Rapid Technologies being a key European partner that helped establish and develop the GSC region. With this transaction, Stratasys will incorporate to its German operations, a seasoned channel partner team that includes customer service, application support, sales and marketing expertise. Stratasys believes that integrating the RTC Rapid Technologies team will better position the company to serve its partners and customers in the GSC region.
“The GSC region is important to Stratasys. By bringing the expertise of RTC Rapid Technologies founders and employees in-house and their intimate familiarity with the GSC region customers, the extended team is expected to add substantial value, being highly focused on our key accounts and business development efforts in this region,” says Stratasys EMEA President, Andy Middleton. “RTC Rapid Technologies has been an invaluable partner and an extension of our company for over 12 years, and I am confident that our new relationship will be a winning combination for Stratasys, our partners and customers alike.” (Original Source)
Shares of Stratasys closed yesterday at $34.33. 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 $36.20 and its 200-day moving average is $56.19.
On the ratings front, Stratasys has been the subject of a number of recent research reports. In a report issued on June 17, Needham analyst James Ricchiuti reiterated a Buy rating on SSYS, with a price target of $46, which represents a potential upside of 34.0% from where the stock is currently trading. Separately, on the same day, Oppenheimer’s Holden Lewis 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, James Ricchiuti and Holden Lewis have a total average return of 2.4% and -15.2% respectively. Ricchiuti has a success rate of 48.9% and is ranked #1416 out of 3688 analysts, while Lewis has a success rate of 18.2% and is ranked #3597.
Overall, 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 47.1% above where the stock closed yesterday.
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.