Stratasys (NASDAQ:SSYS) Issues FY 2024 Earnings Guidance

Stratasys (NASDAQ:SSYS) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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

Several research analysts recently issued reports on SSYS shares. Loop Capital decreased 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. Craig Hallum lifted their target price on shares of Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a report on Thursday. 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. StockNews.com started coverage on Stratasys in a research note on Monday, September 2nd. They issued a “hold” rating on the stock. Finally, Needham & Company LLC raised their price objective on shares of Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.40.

Stratasys Trading Down 4.9 %

Shares of SSYS stock opened at $9.61 on Friday. The company has a 50 day moving average price of $7.49 and a 200-day moving average price of $8.20. Stratasys has a 52 week low of $6.05 and a 52 week high of $14.93.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings results 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 net margin of 16.13% and a negative return on equity of 3.71%. The firm had revenue of $138.00 million during the quarter, compared to analyst estimates of $146.38 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The business’s revenue for the quarter was down 13.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stratasys will post -0.44 EPS for the current 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.