FARO Technologies (NASDAQ:FARO – Get Free Report) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of -0.010-0.190 for the period, compared to the consensus earnings per share estimate of -0.020. The company issued revenue guidance of $76.0 million-$84.0 million, compared to the consensus revenue estimate of $83.6 million.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. Needham & Company LLC decreased their target price on shares of FARO Technologies from $27.00 to $24.00 and set a buy rating for the company in a research note on Friday. Craig Hallum reduced their price objective on shares of FARO Technologies from $29.00 to $25.00 and set a buy rating for the company in a research report on Friday. Finally, StockNews.com upgraded shares of FARO Technologies from a hold rating to a buy rating in a research report on Friday, May 3rd.
Get Our Latest Stock Analysis on FARO Technologies
FARO Technologies Trading Up 5.3 %
FARO Technologies (NASDAQ:FARO – Get Free Report) last issued its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.14. FARO Technologies had a negative net margin of 11.92% and a negative return on equity of 16.09%. The company had revenue of $82.09 million during the quarter.
Insider Transactions at FARO Technologies
In related news, Chairman Yuval Wasserman sold 8,986 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $18.65, for a total transaction of $167,588.90. Following the sale, the chairman now owns 202,835 shares in the company, valued at $3,782,872.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 30,036 shares of company stock valued at $518,303 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.
About FARO Technologies
FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.
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