In a report released today, Jacob Stephan from Lake Street maintained a Buy rating on Stratasys (SSYS – Research Report), with a price target of $15.00.
Jacob Stephan has given his Buy rating due to a combination of factors indicating Stratasys’s potential for growth and profitability. Despite a softer demand for new, high-end additive manufacturing systems across the industry, Stephan notes that there has been a strong interest in lower-priced systems, which have been the main driver for new machine formations. Moreover, material sales have been robust due to stable utilization rates of existing machines, especially from service bureaus. Looking forward, resellers are optimistic, projecting a 10%-15% growth for FY24, surpassing the consensus estimate. Stephan expects Stratasys to outperform with its revenue growth guidance of 5%-8% in 2024, indicating an early positive trend in the year.
Stephan’s confidence in Stratasys also stems from the company’s standalone business strength, new product cycles, and a robust pipeline which he believes should drive modest revenue growth and operational leverage. He points out that the shares are trading at a discount compared to the group, signaling a valuable investment opportunity. With multiple potential catalysts on the horizon, including ramping product cycles and increasing profitability, Stephan anticipates that the stock could provide significant returns from its current level. Therefore, he maintains a Buy rating with a $15 price target, suggesting confidence in Stratasys’s market position and financial outlook.
In another report released on February 12, Cantor Fitzgerald also initiated coverage with a Buy rating on the stock with a $24.00 price target.
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Stratasys (SSYS) Company Description:
Stratasys Ltd. engages in the provision of applied additive technology solutions for industries including aerospace, automotive, healthcare, consumer products and education. Its systems include desktop 3D printers for idea and design development, various systems for rapid prototyping and large production systems for direct digital manufacturing. The company also develops, manufactures and sells materials for use with its systems and provides related service offerings to its customers. Stratasys was founded on March 3, 1998 and is headquartered in Eden Prairie, MN.
Read More on SSYS:
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- Stratasys initiated with an Overweight at Cantor Fitzgerald
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- Stratasys up 9% to $14.35 after takeover offer from Nano Dimension
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