Stratasys (NASDAQ:SSYS) Updates FY24 Earnings Guidance

Stratasys (NASDAQ:SSYS) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $0.01-$0.05 for the period, compared to the consensus EPS estimate of $0.15. The company issued revenue guidance of $570-$580 million, compared to the consensus revenue estimate of $631.62 million. Stratasys also updated its FY 2024 guidance to 0.010-0.050 EPS.

Analyst Upgrades and Downgrades

SSYS has been the topic of a number of analyst reports. Craig Hallum cut their price target on Stratasys from $16.00 to $14.00 and set a buy rating on the stock in a research note on Monday, July 1st. Needham & Company LLC cut their target price on Stratasys from $12.00 to $10.00 and set a buy rating on the stock in a research note on Friday. Lake Street Capital decreased their target price on Stratasys from $15.00 to $11.00 and set a buy rating for the company in a research report on Friday. Cantor Fitzgerald cut their price target on shares of Stratasys from $23.00 to $12.00 and set an overweight rating on the stock in a research report on Friday. Finally, StockNews.com started coverage on shares of Stratasys in a report on Sunday, August 25th. They set a buy rating for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Stratasys presently has an average rating of Buy and an average target price of $11.75.

Stratasys Trading Down 0.7 %

NASDAQ:SSYS opened at $6.87 on Friday. Stratasys has a 1 year low of $6.05 and a 1 year high of $15.03. The stock has a 50-day moving average price of $8.20 and a two-hundred day moving average price of $9.71. The stock has a market cap of $478.56 million, a price-to-earnings ratio of -3.75 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings data on Wednesday, May 29th. The technology company reported ($0.15) earnings per share for the quarter, meeting the consensus estimate of ($0.15). Stratasys had a negative return on equity of 3.27% and a negative net margin of 18.98%. The business had revenue of $144.05 million for the quarter, compared to analysts’ expectations of $147.53 million. Sell-side analysts forecast that Stratasys will post -0.28 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.