Needham & Company Downgrades Stratasys (SSYS) to Hold; Growing Risk to 2012 Estimates in Slower Growth Economic Environment
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Price: $9.00 +0.33%
Rating Summary:
16 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
16 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company downgraded Stratasys (NASDAQ: SSYS) from Buy to Hold.
Needham analyst says, "We are lowering our rating on SSYS and have reduced our estimates for 2012 to reflect what we believe will be a slower growth environment for the company next year. While we are not making major revisions to our 2H estimates, the combination of growing macro-economic concerns and what we believe is continued tepid demand at the low end of the company’s product offering make it unlikely, in our view, that SSYS will be able to grow its top line in excess of the 20% we had been modeling for 2012. Given SSYS’ current valuation, we believe a further meaningful recovery in the shares, which are up nearly 20% in the last three weeks, will be more challenging."
(Needham cuts 2011 EPS estimate to $0.91 from $0.93 and lowers 2012 EPS estimate to $1.07 from $1.24.)
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 $25.03 yesterday.
Needham analyst says, "We are lowering our rating on SSYS and have reduced our estimates for 2012 to reflect what we believe will be a slower growth environment for the company next year. While we are not making major revisions to our 2H estimates, the combination of growing macro-economic concerns and what we believe is continued tepid demand at the low end of the company’s product offering make it unlikely, in our view, that SSYS will be able to grow its top line in excess of the 20% we had been modeling for 2012. Given SSYS’ current valuation, we believe a further meaningful recovery in the shares, which are up nearly 20% in the last three weeks, will be more challenging."
(Needham cuts 2011 EPS estimate to $0.91 from $0.93 and lowers 2012 EPS estimate to $1.07 from $1.24.)
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 $25.03 yesterday.
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