Stratasys (SSYS) Numbers Ratcheted Higher a Needham & Company Post Q3; MakerBot on 'Torrid' Pace

November 8, 2013 8:56 AM EST Send to a Friend
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Price: $117.23 -0.78%

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Needham & Company analyst James Ricchiuti lifted estimate and his price target on Buy-rated Stratasys Inc. (NASDAQ: SSYS) from $108 to $135 following Q3 results, which showed strong organic growth and MakerBot is on a torrid pace.

"Investors appear more than willing to pay up for growth, which is precisely what SSYS is delivering," Ricchiuti notes. "Organic revenue growth in Q3 was 26%. The company's recently acquired MakerBot personal 3D printer business, which added a remarkable $11.6M of revenue in the six weeks that it was part of SSYS, is on a growth trajectory that is far in excess of what we were anticipating. The core professional and production 3D printer business is also performing well, as evidenced by the 27% year-on-year increase in unit sales. With over $600M of cash, SSYS looks well-positioned to pursue complementary acquisitions. Given SSYS's bright growth prospects, we reaffirm our Buy rating."

The firm raised their 2013 revenue estimate to $486M from $468M, which assumes revenues of $156.5M for Q4, and full-year EPS of $1.84. They are increasing our 2014 to $661M from $606M, while their EPS estimate goes to $2.38 from $2.34.

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 $118.15 yesterday.


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