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.

Stratasys Stock Down 3.6 %

SSYS stock opened at $9.26 on Friday. The stock has a market capitalization of $660.98 million, a price-to-earnings ratio of -7.17 and a beta of 1.21. Stratasys has a 52-week low of $6.05 and a 52-week high of $14.93. The stock’s fifty day simple moving average is $7.56 and its 200-day simple moving average is $8.21.

Stratasys (NASDAQ:SSYS) last posted 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. The company had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $146.38 million. Stratasys had a negative return on equity of 3.71% and a negative net margin of 16.13%. The firm’s 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. As a group, analysts anticipate that Stratasys will post -0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SSYS shares. Loop Capital lowered their price objective 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. 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. Craig Hallum boosted their target price on Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday. Lake Street Capital dropped their target price 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. Finally, Needham & Company LLC lifted their price target on shares of Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.40.

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.