Stratasys (NASDAQ:SSYS) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Stratasys (NASDAQ:SSYS) released its quarterly earnings data on Thursday. The technology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01, Briefing.com reports. The firm had revenue of $138.00 million during the quarter, compared to the consensus estimate of $146.38 million. Stratasys had a negative net margin of 18.98% and a negative return on equity of 3.27%. The firm’s revenue was down 13.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Stratasys updated its FY 2024 guidance to 0.010-0.050 EPS and its FY24 guidance to $0.01-$0.05 EPS.

Stratasys Stock Performance

NASDAQ:SSYS opened at $6.87 on Friday. Stratasys has a 1 year low of $6.05 and a 1 year high of $15.03. The business has a fifty day moving average of $8.20 and a 200-day moving average of $9.71. The stock has a market cap of $478.56 million, a price-to-earnings ratio of -3.75 and a beta of 1.21.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SSYS shares. StockNews.com began coverage on shares of Stratasys in a research report on Sunday, August 25th. They set a “buy” rating for the company. Cantor Fitzgerald lowered their target price on Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a report on Friday. Needham & Company LLC cut their price target on Stratasys from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday. Craig Hallum reduced their price objective on Stratasys from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, July 1st. Finally, Lake Street Capital dropped their target price on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $11.75.

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.