Stratasys (NASDAQ:SSYS) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Stratasys (NASDAQ:SSYS) released its quarterly earnings data on Thursday. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01, Briefing.com reports. The business had revenue of $138.00 million during the quarter, compared to analyst estimates of $146.38 million. Stratasys had a negative net margin of 18.98% and a negative return on equity of 3.27%. Stratasys’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) EPS. Stratasys updated its FY 2024 guidance to 0.010-0.050 EPS and its FY24 guidance to $0.01-$0.05 EPS.

Stratasys Trading Down 0.7 %

Shares of SSYS stock opened at $6.87 on Friday. The firm has a market capitalization of $478.56 million, a P/E ratio of -3.75 and a beta of 1.21. Stratasys has a 1 year low of $6.05 and a 1 year high of $15.03. The firm’s fifty day simple moving average is $8.20 and its 200 day simple moving average is $9.71.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SSYS. Needham & Company LLC reduced their price target on Stratasys from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday. StockNews.com started coverage on Stratasys in a research report on Sunday, August 25th. They set a “buy” rating for the company. Cantor Fitzgerald dropped their price target on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday. Craig Hallum reduced their price objective on shares of Stratasys from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, July 1st. Finally, Lake Street Capital dropped their target price on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $11.75.

Stratasys Company Profile

Stratasys Ltd. provides connected polymer-based 3D printing solutions. It offers range of 3D printing systems, which includes polyjet printer, Fused Deposition Modeling (FDM) printers, stereolithography printing systems, origin P3 printers, and selective absorption fusion printer for additive manufacturing, and tooling and rapid prototyping for various vertical markets, such as automotive, aerospace, consumer products and healthcare.