Stratasys (NASDAQ:SSYS) Releases 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 analysts have issued reports on SSYS shares. Cantor Fitzgerald cut their price objective on Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Loop Capital dropped their price objective on Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. StockNews.com initiated coverage on Stratasys in a report on Monday, September 2nd. They issued a “hold” rating on the stock. Needham & Company LLC lowered their price target 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 lowered their price objective on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.80.

Stratasys Price Performance

NASDAQ:SSYS opened at $10.11 on Thursday. Stratasys has a fifty-two week low of $6.05 and a fifty-two week high of $14.93. The stock has a market capitalization of $721.65 million, a PE ratio of -6.06 and a beta of 1.21. The business’s 50-day simple moving average is $7.42 and its 200-day simple moving average is $8.18.

Stratasys (NASDAQ:SSYS) last released its 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. The firm had revenue of $138.00 million for 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%. The business’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) EPS. On average, research analysts expect that Stratasys will post -0.44 earnings per share 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.