Stratasys (NASDAQ:SSYS) Updates FY23 Earnings Guidance

Stratasys (NASDAQ:SSYS – Get Rating) updated its FY23 earnings guidance on Thursday. The company provided earnings per share guidance of $0.12-0.24 for the period, compared to the consensus earnings per share estimate of $0.17. The company issued revenue guidance of $630-670 million, compared to the consensus revenue estimate of $643.09 million.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SSYS shares. Needham & Company LLC reaffirmed a buy rating and issued a $15.00 price objective on shares of Stratasys in a report on Friday, March 10th. Lake Street Capital raised their target price on shares of Stratasys from $20.00 to $22.00 in a report on Friday, March 3rd. Finally, StockNews.com initiated coverage on Stratasys in a research note on Friday, May 19th. They issued a buy rating on the stock. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Stratasys has a consensus rating of Moderate Buy and an average target price of $20.50.

Stratasys Stock Down 2.5 %

Stratasys stock opened at $14.88 on Thursday. The business has a 50 day moving average of $15.00 and a 200-day moving average of $14.00. Stratasys has a 1 year low of $11.03 and a 1 year high of $21.44.

Stratasys (NASDAQ:SSYS – Get Rating) last released its quarterly earnings results on Thursday, March 2nd. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.08. Stratasys had a negative net margin of 4.75% and a negative return on equity of 2.25%. The firm had revenue of $159.26 million during the quarter, compared to the consensus estimate of $157.21 million. On average, sell-side analysts anticipate that Stratasys will post -0.31 EPS for the current year.

Institutional Investors Weigh In On Stratasys

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Stratasys by 160.7% in the 1st quarter. JPMorgan Chase & Co. now owns 126,653 shares of the technology company’s stock valued at $2,094,000 after purchasing an additional 78,078 shares during the period. Cim Investment Management Inc. bought a new position in Stratasys during the first quarter valued at about $334,000. State Street Corp increased its stake in shares of Stratasys by 3.3% during the 1st quarter. State Street Corp now owns 540,058 shares of the technology company’s stock worth $8,927,000 after purchasing an additional 17,188 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Stratasys by 128.2% in the first quarter. Squarepoint Ops LLC now owns 85,129 shares of the technology company’s stock valued at $1,407,000 after buying an additional 47,830 shares during the period. Finally, Gabelli Funds LLC lifted its holdings in Stratasys by 15.0% during the first quarter. Gabelli Funds LLC now owns 13,800 shares of the technology company’s stock valued at $228,000 after purchasing an additional 1,800 shares during the last quarter. Institutional investors own 83.16% of the company’s stock.

Stratasys Company Profile

(Get Rating)

Stratasys Ltd. engages in the provision of applied additive technology solutions for industries including aerospace, automotive, healthcare, consumer products, and education. Its systems include desktop 3D printers for idea and design development, various systems for rapid prototyping and large production systems for direct digital manufacturing.