Stratasys (NASDAQ:SSYS) Issues FY24 Earnings Guidance

Stratasys (NASDAQ:SSYS) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.03-0.07 for the period, compared to the consensus EPS 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.

Stratasys Stock Performance

Stratasys stock opened at $9.61 on Friday. Stratasys has a 12 month low of $6.05 and a 12 month high of $14.93. The stock’s 50-day moving average is $7.49 and its 200-day moving average is $8.20.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $146.38 million. During the same period in the previous year, the company posted ($0.08) earnings per share. Stratasys’s revenue was down 13.6% compared to the same quarter last year. Sell-side analysts expect that Stratasys will post -0.44 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SSYS shares. Craig Hallum lifted their price objective on shares of Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC raised their target price on Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a research note 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. Cantor Fitzgerald reduced their price target on Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Finally, StockNews.com started coverage on Stratasys in a report on Monday, September 2nd. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.40.

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.