Stratasys price target lowered to $15 from $17 at Lake Street

Lake Street analyst Jacob Stephan lowered the firm’s price target on Stratasys to $15 from $17 and keeps a Buy rating on the shares. Stratasys beat consensus estimates on both top and bottom lines as it continues to focus on profitable growth, notes the analyst, who is lowering the firm’s price target based on a 1.2 times EV/Sales multiple on the firm’s revised 2024 revenue estimates. The firm continues to like Stratasys as a standalone business and believes new product cycles and “a robust pipeline should drive modest revenue growth and operational leverage,” the analyst added.