Stratasys (NASDAQ:SSYS) Releases 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.

Analyst Ratings Changes

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

Stratasys Stock Performance

NASDAQ SSYS traded up $1.65 during trading on Wednesday, reaching $10.04. The company’s stock had a trading volume of 898,128 shares, compared to its average volume of 490,746. Stratasys has a twelve month low of $6.05 and a twelve month high of $14.93. The business’s fifty day moving average price is $7.40 and its 200-day moving average price is $8.19. The firm has a market cap of $716.64 million, a price-to-earnings ratio of -6.16 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last posted its quarterly earnings data on Thursday, August 29th. The technology company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $146.38 million. During the same period last year, the firm earned ($0.08) EPS. The firm’s revenue for the quarter was down 13.6% on a year-over-year basis. As a group, sell-side analysts forecast that Stratasys will post -0.44 EPS for the current fiscal 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.