Cantor Fitzgerald Forecasts Higher Earnings for Stratasys

Stratasys Ltd. (NASDAQ:SSYS) – Equities research analysts at Cantor Fitzgerald upped their FY2024 earnings per share estimates for Stratasys in a report released on Tuesday, March 4th. Cantor Fitzgerald analyst T. Jensen now expects that the technology company will post earnings of ($0.38) per share for the year, up from their prior estimate of ($0.42). Cantor Fitzgerald has a “Overweight” rating and a $15.00 price objective on the stock. The consensus estimate for Stratasys’ current full-year earnings is ($0.40) per share.

Stratasys (NASDAQ:SSYS) last posted its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. The firm had revenue of $150.40 million during the quarter, compared to analysts’ expectations of $151.01 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 EPS.

Other analysts have also recently issued research reports about the stock. StockNews.com cut shares of Stratasys from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $12.00 target price on shares of Stratasys in a research note on Monday, February 3rd. Finally, Craig Hallum boosted their target price on Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.00.

Stratasys Price Performance

Shares of NASDAQ:SSYS opened at $10.35 on Thursday. The company has a 50 day moving average of $10.23 and a 200-day moving average of $8.90. Stratasys has a one year low of $6.05 and a one year high of $12.88. The stock has a market cap of $738.76 million, a price-to-earnings ratio of -7.84 and a beta of 1.31.

Institutional Investors Weigh In On Stratasys

A number of hedge funds and other institutional investors have recently made changes to their positions in SSYS. Invenomic Capital Management LP bought a new stake in shares of Stratasys in the third quarter valued at about $10,916,000. Penn Capital Management Company LLC bought a new stake in shares of Stratasys during the 4th quarter worth approximately $5,376,000. RPG Investment Advisory LLC boosted its holdings in shares of Stratasys by 64.6% in the 4th quarter. RPG Investment Advisory LLC now owns 1,086,337 shares of the technology company’s stock valued at $9,658,000 after buying an additional 426,341 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Stratasys by 53.1% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,153,580 shares of the technology company’s stock valued at $10,255,000 after buying an additional 400,000 shares in the last quarter. Finally, Formula Growth Ltd. increased its holdings in Stratasys by 58.3% during the fourth quarter. Formula Growth Ltd. now owns 760,000 shares of the technology company’s stock worth $6,756,000 after buying an additional 280,000 shares during the last quarter. 75.77% of the stock is currently owned by institutional investors and hedge funds.

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.