Stratasys (NASDAQ:SSYS) Updates FY 2024 Earnings Guidance

Stratasys (NASDAQ:SSYS) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.030-0.070 for the period, compared to the consensus EPS estimate of 0.010. The company issued revenue guidance of $570.0 million-$580.0 million, compared to the consensus revenue estimate of $571.9 million.

Stratasys Stock Down 4.1 %

SSYS stock opened at $8.39 on Wednesday. Stratasys has a 52 week low of $6.05 and a 52 week high of $14.93. The stock has a market capitalization of $598.86 million, a P/E ratio of -5.15 and a beta of 1.21. The firm has a 50-day simple moving average of $7.40 and a 200-day simple moving average of $8.19.

Stratasys (NASDAQ:SSYS) last issued its earnings results on Thursday, August 29th. The technology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $146.38 million. Stratasys had a negative net margin of 18.98% and a negative return on equity of 3.29%. The company’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) earnings per share. On average, analysts expect that Stratasys will post -0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

SSYS has been the topic of several analyst reports. Lake Street Capital reduced their price target on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Needham & Company LLC lowered their price objective on Stratasys from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 30th. StockNews.com assumed coverage on Stratasys in a research report on Monday, September 2nd. They issued a “hold” rating on the stock. Cantor Fitzgerald lowered their price target on Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Finally, Loop Capital reduced their price objective on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.80.

About Stratasys

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.