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 guidance of 0.030-0.070 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

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

Stratasys Price Performance

NASDAQ SSYS opened at $10.11 on Thursday. Stratasys has a 1-year low of $6.05 and a 1-year high of $14.93. The business’s fifty day moving average price is $7.42 and its 200-day moving average price is $8.18. The stock has a market capitalization of $721.65 million, a price-to-earnings ratio of -6.06 and a beta of 1.21.

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