- Believing "the current glut of 3D printing machines installed over the past 2 years will put pressure on demand for the next 6-12 months, limiting revenue upside," Deutsche's Sherri Scribner has downgraded Stratasys (NASDAQ:SSYS) to Hold, and cut her target by $12 to $28.
- Scribner, who launched coverage on Stratasys (currently trades below $27) at Buy in Dec. 2013 (when shares were at a lofty $117.00), now thinks shares will likely stay range-bound through 2016 as weak printer capex and its related impact on supplies revenue and gross margin weighs on results.
- The downgrade comes five days after Stratasys' beaten-down shares jumped in spite of a Q3 miss and soft Q4 guidance.