Stratasys (NASDAQ:SSYS) Issues FY24 Earnings Guidance

Stratasys (NASDAQ:SSYS) updated its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.03-0.07 for the period, compared to the consensus earnings per share 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 Trading Down 3.6 %

SSYS opened at $9.26 on Friday. The stock has a 50-day moving average of $7.56 and a 200 day moving average of $8.21. Stratasys has a 12 month low of $6.05 and a 12 month high of $14.93. The firm has a market cap of $660.98 million, a P/E ratio of -7.17 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last announced its earnings results on Thursday, August 29th. The technology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Stratasys had a negative return on equity of 3.71% and a negative net margin of 16.13%. The firm had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $146.38 million. During the same quarter in the previous year, the business earned ($0.08) EPS. The company’s quarterly revenue was down 13.6% on a year-over-year basis. On average, research analysts forecast that Stratasys will post -0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SSYS. Lake Street Capital dropped their price target on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Cantor Fitzgerald cut their target price on Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Loop Capital decreased their price target on 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 assumed coverage on Stratasys in a research note on Monday, September 2nd. They issued a “hold” rating on the stock. Finally, Craig Hallum boosted their target price on shares of Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Stratasys currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.40.

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.