Analyst Update: Apple, Hortonworks, and Stratasys

Analysts adjusted their ratings on Apple Inc. (AAPL), Hortonworks Inc (HDP), and Stratasys, Ltd. (SSYS)

Aug 6, 2015 at 1:42 PM
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Analysts are weighing in today on Dow component Apple Inc (NASDAQ:AAPL), tech solutions firm Hortonworks Inc (NASDAQ:HDP), and 3D printing concern Stratasys, Ltd. (NASDAQ:SSYS).

  • HDP is more than 17% higher at $28.32, after reporting better-than-expected second-quarter earnings and offering upbeat revenue guidance. In the wake of the earnings surprise, brokerages jumped all over Hortonworks Inc. Pacific Crest raised HDP's price target to $33 from $32, JMP Securities elevated its target to $32 from $30, RBC and Wunderlich both lifted their targets to $36 from $32, and Credit Suisse hiked its target by $5 to $40 -- deep into uncharted territory. The stock could be benefitting from an unwinding of pessimism from short sellers. A hefty 26.2% of HDP's float is currently sold short, and it would take more than 17 days to exhaust the bears' negative bets, at the stock's average pace of trading. 

  • We round out today's update with SSYS, which is 7.1% higher at $30.01, thanks to a bullish brokerage note and sector tailwinds from 3D Systems Corporation (NYSE:DDD).  Specifically, Stratasys, Ltd. was elevated to "buy" from "neutral" at Citigroup. The 3D printer is now challenging resistance in the $30 region, and continues to stare up at its 10-week moving average. This trendline has bullied the stock lower since the beginning of October. Despite this poor performance -- SSYS just hit a three-year low earlier this week -- option players are bullish toward the firm, as SSYS's SOIR of 0.66 is at a 52-week low. If the stock cannot break through the resistance, this optimism could unwind and further the stock's slump.
For other stocks in analysts' crosshairs, read Analyst Upgrades: GoDaddy Inc., Coca-Cola Enterprises Inc, and Herbalife Ltd. and Analyst Downgrades: CBS Corporation, Keurig Green Mountain Inc, and Zumiez Inc. 
 

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