Needham & Company Maintains a 'Buy' on Stratasys Inc. (SSYS); Sharp Pullback Following Better Than Expected Q1 Report; Solidscape Acquisition Good Fit
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Price: $7.90 +0.51%
Rating Summary:
16 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
16 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Needham & Company maintains a 'Buy' on Stratasys Inc. (NASDAQ: SSYS), PT increased from $43 to $47.
Needham analyst says, "Investors took profits in SSYS shares yesterday following the strong runup in the stock over the last several months. Q1 results were stronger than expected, highlighted by 23% y/o/y revenue growth, the highest gross margins in three years and 52% growth in EPS. The selloff was likely sparked by concerns that the HP OEM relationship is moving more slowly than expected. We continue to favor the long-term fundamentals underpinning the SSYS story. The acquisition of Solidscape, a 3D printer company that targets the jewelry market, appears to be good fit for SSYS and is expected to be accretive to earnings in 2011."
"We are increasing our 2011 non-GAAP EPS est. to $1.00 from $0.98 on rev. of $157M, up from our prior $149M est. We are raising our 2012 EPS est. to $1.33 from $1.25 on rev. of $192M."
For more ratings news on Stratasys Inc. click here and for the rating history of Stratasys Inc. click here.
Shares of Stratasys Inc. closed at $42.39 yesterday.
Needham analyst says, "Investors took profits in SSYS shares yesterday following the strong runup in the stock over the last several months. Q1 results were stronger than expected, highlighted by 23% y/o/y revenue growth, the highest gross margins in three years and 52% growth in EPS. The selloff was likely sparked by concerns that the HP OEM relationship is moving more slowly than expected. We continue to favor the long-term fundamentals underpinning the SSYS story. The acquisition of Solidscape, a 3D printer company that targets the jewelry market, appears to be good fit for SSYS and is expected to be accretive to earnings in 2011."
"We are increasing our 2011 non-GAAP EPS est. to $1.00 from $0.98 on rev. of $157M, up from our prior $149M est. We are raising our 2012 EPS est. to $1.33 from $1.25 on rev. of $192M."
For more ratings news on Stratasys Inc. click here and for the rating history of Stratasys Inc. click here.
Shares of Stratasys Inc. closed at $42.39 yesterday.
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