Brean Capital Lays Out the Case for Stratasys, Ltd. (SSYS) Following Q2 Earnings
Brean Capital analyst Ananda Baruah weighed in with a few insights on Stratasys, Ltd. (NASDAQ:SSYS), after the 3D printer maker reported its second-quarter results, posting revenues and EPS of $172.1 million and $0.12, compared to consensus expectations of $175.6 million and $0.06, respectively. Shares of Stratasys are currently trading at $20.19, up $0.64 or 3.28%.
The analyst reiterated a Hold rating on the stock, noting, “While we’d characterize the current demand environment as stable, we also remind folks that executing on the strategic initiatives to catalyze the next legs of growth will require time. In that context, while SSYS put up solid results relative to Jun Q Street expectations and maintained their revenue and guidance ranges of $700M – $730M (Street at $711M & $0.33), on the call they also talked revenue to the lower end of the range.”
“We continue to believe that SSYS’s focused approach on developing ecosystem solutions and innovating into key verticals such as Health Care, Automotive and Aerospace is the right way to go to position the company over the long term. That said, it requires patience and execution,” the analyst concluded.
As usual, we like to include the analyst’s trackrecord when reporting on new analyst notes to give a perspective on the effect it has on stock performance. According to TipRanks.com, analyst Ananda Baruah has a yearly average return of 0.4% and a 53% success rate. Baruah has a -22.4% average return when recommending SSYS, and is ranked #1922 out of 4090 analysts.
Out of the 16 analysts polled by TipRanks, 4 rate Stratasys stock a Buy, 9 rate the stock a Hold and 3 recommend Sell. With a return potential of 29.1%, the stock’s consensus target price stands at $25.40.
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