Stratasys (NASDAQ:SSYS) Releases FY 2024 Earnings Guidance

Stratasys (NASDAQ:SSYS) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.030-0.070 for the period, compared to the consensus EPS 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 also updated its FY24 guidance to $0.03-0.07 EPS.

Wall Street Analysts Forecast Growth

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

Stratasys Stock Up 19.7 %

NASDAQ:SSYS traded up $1.65 during mid-day trading on Wednesday, reaching $10.04. The company’s stock had a trading volume of 898,128 shares, compared to its average volume of 490,746. The stock has a fifty day moving average of $7.40 and a 200-day moving average of $8.19. The firm has a market capitalization of $716.64 million, a PE ratio of -6.16 and a beta of 1.21. Stratasys has a 1 year low of $6.05 and a 1 year high of $14.93.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings data on Thursday, August 29th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Stratasys had a negative net margin of 18.98% and a negative return on equity of 3.29%. The firm had revenue of $138.00 million for the quarter, compared to the consensus estimate of $146.38 million. During the same quarter in the previous year, the firm earned ($0.08) EPS. The company’s quarterly revenue was down 13.6% compared to the same quarter last year. On average, analysts expect that Stratasys will post -0.44 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.