UPDATE: JPMorgan Downgrades Stratasys Inc. (SSYS) to Neutral

September 24, 2020 4:31 AM EDT
Get Alerts SSYS Hot Sheet
Price: $21.89 +11.12%

Rating Summary:
    13 Buy, 16 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 26 | New: 45
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(Updated - September 24, 2020 6:04 AM EDT)

(updating comment)

JPMorgan analyst Paul Coster downgraded Stratasys Inc. (NASDAQ: SSYS) from Overweight to Neutral with a price target of $18.00 (from $20.00).

The analyst comments "We downgrade SSYS to Neutral based on lack of nearterm catalysts. SSYS is trading at ~100x our revised CY21E PF EPS forecast of $0.12, which is a significant premium to the five-year mean P/E trading range of ~40x, but the stock is trading at more attractive 13.8 EV/revised adjusted CY21 EBITDA. Furthermore, SSYS is clearly under-earning at present since the company is investing in new products during the COVID-19 downturn that should restore growth in 2021 and beyond, leading to a better expression of earnings power in the out-years. That said, given the lack of near-term catalysts, we move to the sidelines for now, and we expect SSYS to perform in line with the mean of our coverage over the next 6-12 months."

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 $12.70 yesterday.

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