Piper Jaffray Cuts Price Target on Stratasys (SSYS) Ahead of Q2 Results

Piper Jaffray maintains a Neutral rating on Stratasys Inc. (NASDAQ: SSYS), and cut the price target to $42.00 (from $43.00), ahead of Q2 results. Analyst Troy Jensen believes 2H consensus estimates are too high and anticipates another round of cuts when the company reports Q2 results.

Jensen commented, "We continue to remain more upbeat on SSYS than many other 3D names, but believe 2H consensus estimates are too high and we anticipate one more round of cuts when the company reports Q2 results in early-mid August. While 2015 has turned out to be an incredibly disappointing year for SSYS, we still believe the industry will grow at healthy rates once excess capacity is consumed and as end-used part applications gain momentum. We also believe that SSYS has a robust pipeline of new technologies and materials that should help reaccelerate growth for the company. Given our concerns regarding the 2H estimates we are reiterating our Neutral rating, but bringing down our price target to $42 from $43 due to a reduction in our revenue and EPS forecasts."

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 $34.03 yesterday.

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