.png "Stratasys (NASDAQ: SSYS)")
In a report released today, Christopher Van Horn from B.Riley FBR reiterated a Hold rating on Stratasys (SSYS), with a price target of $20. The company’s shares opened today at $23.10.
Van Horn said:
“Stratasys (SSYS) has a solid portfolio of 3D printing technologies and continues to drive innovation with a growing R&D budget, which, we believe, could support future long-term growth. Yet, while underlying adoption of 3D printing continues to gradually increase, SSYS continues to see slow revenue growth. We estimate that sales grew <1% and were roughly flat for the full year, after excluding the impact of divestitures. We expect sales to be about flat Y/Y in the first half of FY19 on an organic basis (ex. the negative effect of FY18 divestitures), which reflects our view that reduced demand in certain end markets, observed during the fourth quarter, could continue into early FY19."
According to TipRanks.com, Horn is a 4-star analyst with an average return of 3.2% and a 48.9% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Espey Mfg & Electronics, Methode Electronics, and Hickok Incorporated.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Stratasys with a $26 average price target.
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Based on Stratasys’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $6.31 million. In comparison, last year the company had a GAAP net loss of $9.98 million.
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Stratasys Ltd. engages in the provision of additive manufacturing solutions for the production of parts used in the process of designing and manufacturing products for the manufacturer of end parts. Its systems include desktop 3D printers for idea and design development, various systems for rapid prototyping and large production systems for direct digital manufacturing. The company also develops, manufactures and sells materials for use with its systems and provides related service offerings to its customers. Stratasys was founded on March 3, 1998 and is headquartered in Eden Prairie, MN.
