Stratasys (NASDAQ:SSYS) Updates FY 2024 Earnings Guidance

Stratasys (NASDAQ:SSYS) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.030-0.070 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of Stratasys stock opened at $8.39 on Wednesday. The stock has a market cap of $598.86 million, a price-to-earnings ratio of -5.15 and a beta of 1.21. The firm’s 50-day moving average is $7.40 and its two-hundred day moving average is $8.19. 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) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $138.00 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned ($0.08) earnings per share. On average, equities analysts expect that Stratasys will post -0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC dropped their price target on Stratasys from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. StockNews.com assumed coverage on shares of Stratasys in a research report on Monday, September 2nd. They set a “hold” rating on the stock. Loop Capital decreased their price target on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Lake Street Capital cut their target price on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Finally, Cantor Fitzgerald reduced their target price on Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.