Stratasys (NASDAQ:SSYS) Updates FY24 Earnings Guidance

Stratasys (NASDAQ:SSYS - Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.03-0.07 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Loop Capital decreased their price objective on shares of Stratasys from $9.00 to $7.00 and set a "hold" rating on the stock in a research note on Thursday, September 5th. Needham & Company LLC reduced their price objective on shares of Stratasys from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, August 30th. StockNews.com initiated coverage on shares of Stratasys in a research note on Monday, September 2nd. They issued a "hold" rating on the stock. Cantor Fitzgerald cut their target price on shares of Stratasys from $23.00 to $12.00 and set an "overweight" rating on the stock in a report on Friday, August 30th. Finally, Lake Street Capital dropped their price objective on shares of Stratasys from $15.00 to $11.00 and set a "buy" rating on the stock in a report on Friday, August 30th. Two 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, Stratasys has an average rating of "Moderate Buy" and a consensus target price of $10.80.

Stratasys Price Performance

Stratasys stock traded up $1.72 during midday trading on Wednesday, hitting $10.11. The company's stock had a trading volume of 3,139,669 shares, compared to its average volume of 500,935. The company has a 50-day moving average price of $7.42 and a two-hundred day moving average price of $8.18. The company has a market cap of $721.65 million, a price-to-earnings ratio of -6.06 and a beta of 1.21. Stratasys has a 1-year low of $6.05 and a 1-year high of $14.93.

Stratasys (NASDAQ:SSYS - Get Free Report) last released its quarterly earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. The business had revenue of $138.00 million during the quarter, compared to the consensus estimate of $146.38 million. Stratasys had a negative return on equity of 3.29% and a negative net margin of 18.98%. The company's quarterly revenue was down 13.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.08) EPS. Sell-side analysts forecast 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.