Stratasys (SSYS) Shares are Already Washed Out - Needham & Company

November 15, 2016 11:00 AM EST
Get Alerts SSYS Hot Sheet
Price: $19.62 +3.59%

Rating Summary:
    10 Buy, 15 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 18 | New: 19
Trade SSYS Now!
Join SI Premium – FREE

Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.

Needham & Company analyst James Ricchiuti lowered his price target on Stratasys Inc. (NASDAQ: SSYS) to $21.00 (from $24.00) following its Q3 miss and weak guidance but maintained a Buy rating, saying shares are washed out at current levels.

Ricchiuti commented, " SSYS turned in a disappointing Q3 report prior to the open today, reflecting continued weak conditions in the core prototyping business. Revs came in 10% below Street expectations and declined 6% y/o/y. SSYS managed to break even on a non-GAAP basis, mainly the result of lower non-GAAP operating expense. Mgmt remains cautious near term and lowered its full-year outlook for revenues to $662M-$673M from $700M-$730M previously, which implies that Q4 revenues will be down 5% to up 1% y/o/y, below Street expectations. SSYS shares are trading at less than 1x EV/out-year sales and we believe offer value for investors looking out to what we expect will be a better demand environment in 2017, driven in part by increased penetration of additive manufacturing applications in markets like aerospace and medical."

The firm is cutting Q4 non-GAAP EPS est. to $0.04 from $0.14 and rev estimate to $170M from $187M.

For an analyst ratings summary and ratings history on Stratasys Inc. click here. For more ratings news on Stratasys Inc. click here.

Shares of Stratasys Inc. closed at $20.50 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Needham & Company

Add Your Comment