Stratasys (NASDAQ:SSYS) Updates FY 2024 Earnings Guidance

Stratasys (NASDAQ:SSYS) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.030-0.070 for the period, compared to the consensus 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

A number of brokerages have weighed in on SSYS. Lake Street Capital lowered their price objective on Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Loop Capital dropped their price target on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. StockNews.com initiated coverage on shares of Stratasys in a research note on Monday, September 2nd. They set a “hold” rating on the stock. Needham & Company LLC boosted their target price on shares of Stratasys from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald reduced 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, August 30th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.40.

Stratasys Price Performance

SSYS stock opened at $9.26 on Friday. The firm has a fifty day moving average price of $7.56 and a two-hundred day moving average price of $8.21. Stratasys has a 1-year low of $6.05 and a 1-year high of $14.93. The firm has a market cap of $660.98 million, a price-to-earnings ratio of -7.17 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings data on Thursday, August 29th. The technology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.71%. The firm had revenue of $138.00 million for the quarter, compared to analyst estimates of $146.38 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Stratasys’s quarterly revenue was down 13.6% on a year-over-year basis. As a group, 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.