Stratasys (NASDAQ:SSYS) Releases FY24 Earnings Guidance

Stratasys (NASDAQ:SSYS) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.03-0.07 for the period, compared to the consensus estimate of $0.01. The company issued revenue guidance of $570-580 million, compared to the consensus revenue estimate of $571.89 million. Stratasys also updated its FY 2024 guidance to 0.030-0.070 EPS.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Craig Hallum lifted their price objective on Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com initiated coverage on shares of Stratasys in a research report on Monday, September 2nd. They issued a “hold” rating on the stock. Cantor Fitzgerald reduced their price objective on Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Needham & Company LLC boosted their target price on Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday. Finally, Loop Capital decreased their price target on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.40.

Stratasys Stock Down 4.9 %

Shares of SSYS stock opened at $9.61 on Friday. The stock has a fifty day moving average price of $7.49 and a 200 day moving average price of $8.20. Stratasys has a 1 year low of $6.05 and a 1 year high of $14.93.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings data on Thursday, August 29th. The technology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $138.00 million for the quarter, compared to analyst estimates of $146.38 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.71%. The business’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) EPS. As a group, equities analysts forecast that Stratasys will post -0.44 earnings per share for the current year.

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.