Stratasys (NASDAQ:SSYS) Updates FY24 Earnings Guidance

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

Stratasys Stock Down 4.1 %

NASDAQ SSYS opened at $8.39 on Wednesday. The stock has a market cap of $598.86 million, a P/E ratio of -5.15 and a beta of 1.21. Stratasys has a twelve month low of $6.05 and a twelve month high of $14.93. The company’s 50-day simple moving average is $7.40 and its 200 day simple moving average is $8.19.

Stratasys (NASDAQ:SSYS) last issued its earnings results 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. The business had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $146.38 million. Stratasys had a negative return on equity of 3.29% and a negative net margin of 18.98%. Stratasys’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) EPS. Research analysts anticipate that Stratasys will post -0.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.