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 Analysts Forecast Growth

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

Stratasys Price Performance

NASDAQ SSYS opened at $10.11 on Thursday. The business’s fifty day moving average is $7.42 and its 200-day moving average is $8.18. Stratasys has a one year low of $6.05 and a one year high of $14.93. The stock has a market capitalization of $721.65 million, a price-to-earnings ratio of -6.06 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last posted its earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share 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 analyst estimates of $146.38 million. Stratasys had a negative return on equity of 3.29% and a negative net margin of 18.98%. The company’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) EPS. Research analysts expect that Stratasys will post -0.44 EPS for the current fiscal year.

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.