Cantor Fitzgerald Raises Earnings Estimates for Stratasys

Stratasys Ltd. (NASDAQ:SSYS) – Stock analysts at Cantor Fitzgerald lifted their FY2024 earnings estimates for shares of Stratasys in a research note issued to investors on Tuesday, March 4th. Cantor Fitzgerald analyst T. Jensen now anticipates that the technology company will post earnings of ($0.38) per share for the year, up from their previous estimate of ($0.42). Cantor Fitzgerald has a “Overweight” rating and a $15.00 price objective on the stock. The consensus estimate for Stratasys’ current full-year earnings is ($0.40) per share.

Stratasys (NASDAQ:SSYS) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The business had revenue of $150.40 million for the quarter, compared to analysts’ expectations of $151.01 million. During the same period in the prior year, the company posted $0.02 EPS. The business’s revenue for the quarter was down 3.8% on a year-over-year basis.

Other equities research analysts have also issued reports about the stock. StockNews.com lowered shares of Stratasys from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Craig Hallum boosted their price objective on shares of Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Needham & Company LLC boosted their price objective on shares of Stratasys from $12.00 to $13.00 and gave the stock 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.20.

Stratasys Stock Down 5.9 %

Stratasys stock opened at $9.74 on Thursday. Stratasys has a 52 week low of $6.05 and a 52 week high of $12.88. The firm’s 50-day simple moving average is $10.24 and its 200 day simple moving average is $8.90. The firm has a market capitalization of $695.22 million, a PE ratio of -7.38 and a beta of 1.31.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SSYS. Invenomic Capital Management LP purchased a new position in Stratasys in the 3rd quarter valued at about $10,916,000. Penn Capital Management Company LLC purchased a new position in Stratasys in the 4th quarter valued at about $5,376,000. RPG Investment Advisory LLC lifted its holdings in Stratasys by 64.6% in the 4th quarter. RPG Investment Advisory LLC now owns 1,086,337 shares of the technology company’s stock valued at $9,658,000 after purchasing an additional 426,341 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Stratasys by 53.1% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,153,580 shares of the technology company’s stock valued at $10,255,000 after purchasing an additional 400,000 shares in the last quarter. Finally, Formula Growth Ltd. lifted its holdings in Stratasys by 58.3% in the 4th quarter. Formula Growth Ltd. now owns 760,000 shares of the technology company’s stock valued at $6,756,000 after purchasing an additional 280,000 shares in the last quarter. 75.77% of the stock is currently owned by hedge funds and other 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.