Brokers Offer Predictions for Stratasys Ltd.’s Q3 2024 Earnings (NASDAQ:SSYS)

Stratasys Ltd. (NASDAQ:SSYS) – Equities research analysts at William Blair lowered their Q3 2024 earnings estimates for Stratasys in a report issued on Monday, September 16th. William Blair analyst B. Drab now expects that the technology company will post earnings per share of ($0.15) for the quarter, down from their previous estimate of ($0.12). The consensus estimate for Stratasys’ current full-year earnings is ($0.44) per share. William Blair also issued estimates for Stratasys’ Q4 2024 earnings at $0.01 EPS and FY2025 earnings at ($0.15) EPS.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings data on Thursday, August 29th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm 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 business’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) EPS.

SSYS has been the subject of a number of other reports. Needham & Company LLC dropped their target price on shares of Stratasys from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Cantor Fitzgerald dropped their price objective on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Lake Street Capital decreased their price objective on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Loop Capital cut their price target on Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, StockNews.com began coverage on Stratasys in a report on Monday, September 2nd. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.80.

Stratasys Stock Down 1.6 %

Stratasys stock opened at $7.36 on Thursday. Stratasys has a 12-month low of $6.05 and a 12-month high of $14.93. The stock has a 50-day simple moving average of $7.78 and a 200 day simple moving average of $9.17. The stock has a market capitalization of $512.67 million, a price-to-earnings ratio of -4.02 and a beta of 1.18.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SSYS. Rubric Capital Management LP lifted its stake in Stratasys by 366.7% in the fourth quarter. Rubric Capital Management LP now owns 4,250,000 shares of the technology company’s stock valued at $60,690,000 after buying an additional 3,339,367 shares during the period. Clearline Capital LP acquired a new stake in shares of Stratasys in the 2nd quarter valued at approximately $9,301,000. Norges Bank bought a new position in Stratasys during the 4th quarter worth approximately $6,706,000. Frontier Capital Management Co. LLC grew its holdings in Stratasys by 9.1% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,694,148 shares of the technology company’s stock valued at $24,192,000 after purchasing an additional 140,841 shares during the period. Finally, State of Michigan Retirement System increased its stake in Stratasys by 17.2% in the second quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company’s stock valued at $6,859,000 after purchasing an additional 120,000 shares in the last quarter. 75.77% of the stock is currently owned by institutional investors.

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.