Stratasys (NASDAQ:SSYS) Updates FY24 Earnings Guidance

Stratasys (NASDAQ:SSYS) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.01-$0.05 for the period, compared to the consensus earnings per share estimate of $0.15. The company issued revenue guidance of $570-$580 million, compared to the consensus revenue estimate of $631.62 million. Stratasys also updated its FY 2024 guidance to 0.010-0.050 EPS.

Stratasys Trading Down 0.4 %

NASDAQ:SSYS opened at $7.68 on Thursday. The company has a 50-day moving average price of $8.26 and a 200-day moving average price of $9.79. Stratasys has a 12 month low of $7.04 and a 12 month high of $15.03. The stock has a market cap of $534.99 million, a price-to-earnings ratio of -4.20 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last posted its earnings results on Wednesday, May 29th. The technology company reported ($0.15) EPS for the quarter, hitting the consensus estimate of ($0.15). Stratasys had a negative net margin of 20.38% and a negative return on equity of 2.68%. The firm had revenue of $144.05 million during the quarter, compared to analysts’ expectations of $147.53 million. Equities analysts forecast that Stratasys will post -0.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Stratasys in a research note on Sunday. They issued a buy rating for the company. Cantor Fitzgerald reiterated an overweight rating and issued a $23.00 price target on shares of Stratasys in a research note on Thursday, May 30th. Craig Hallum decreased their price target on shares of Stratasys from $16.00 to $14.00 and set a buy rating for the company in a research note on Monday, July 1st. Finally, Needham & Company LLC decreased their price target on shares of Stratasys from $16.00 to $12.00 and set a buy rating for the company in a research note on Thursday, May 30th.

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.