Stratasys Ltd. (NASDAQ:SSYS) to Post Q3 2024 Earnings of ($0.12) Per Share, William Blair Forecasts

Stratasys Ltd. (NASDAQ:SSYS) – Investment analysts at William Blair reduced their Q3 2024 EPS estimates for shares of Stratasys in a research report issued to clients and investors on Tuesday, September 3rd. William Blair analyst B. Drab now anticipates that the technology company will post earnings per share of ($0.12) for the quarter, down from their previous estimate of ($0.03). The consensus estimate for Stratasys’ current full-year earnings is ($0.28) per share. William Blair also issued estimates for Stratasys’ Q4 2024 earnings at ($0.02) EPS and FY2024 earnings at ($0.41) EPS.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings data on Thursday, August 29th. The technology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. Stratasys had a negative return on equity of 3.29% and a negative net margin of 18.98%. The business had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $146.38 million. During the same quarter last year, the business posted ($0.08) EPS. The business’s revenue was down 13.6% on a year-over-year basis.

A number of other brokerages have also recently commented on SSYS. Loop Capital dropped their target price on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday. Cantor Fitzgerald dropped their price objective on Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Craig Hallum cut their target price on shares of Stratasys from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, July 1st. StockNews.com assumed coverage on Stratasys in a research note on Monday, September 2nd. They issued a “hold” rating on the stock. Finally, Needham & Company LLC cut their price objective on Stratasys from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 30th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Stratasys presently has an average rating of “Moderate Buy” and an average price target of $10.80.

Stratasys Trading Down 4.6 %

Shares of SSYS opened at $6.16 on Thursday. Stratasys has a 1-year low of $6.05 and a 1-year high of $14.93. The firm’s 50-day moving average price is $8.03 and its 200-day moving average price is $9.50. The firm has a market capitalization of $429.11 million, a price-to-earnings ratio of -3.37 and a beta of 1.18.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund grew its stake in shares of Stratasys by 49.0% in the 4th quarter. New York State Common Retirement Fund now owns 32,690 shares of the technology company’s stock worth $467,000 after buying an additional 10,747 shares in the last quarter. Formidable Asset Management LLC lifted its stake in shares of Stratasys by 21.1% in the 4th quarter. Formidable Asset Management LLC now owns 21,252 shares of the technology company’s stock valued at $303,000 after purchasing an additional 3,705 shares during the last quarter. Norges Bank purchased a new position in shares of Stratasys in the 4th quarter worth approximately $6,706,000. Millrace Asset Group Inc. increased its position in shares of Stratasys by 26.1% during the 4th quarter. Millrace Asset Group Inc. now owns 127,635 shares of the technology company’s stock valued at $1,823,000 after purchasing an additional 26,450 shares during the last quarter. Finally, Olympiad Research LP bought a new stake in Stratasys in the fourth quarter worth $486,000. 75.77% of the stock is currently owned by institutional investors.

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.