Q3 2024 EPS Estimates for Stratasys Ltd. (NASDAQ:SSYS) Reduced by Analyst

Stratasys Ltd. (NASDAQ:SSYS) – Investment analysts at William Blair dropped their Q3 2024 earnings per share estimates for Stratasys in a research report issued to clients and investors on Monday, September 16th. William Blair analyst B. Drab now forecasts that the technology company will earn ($0.15) per share for the quarter, down from their prior forecast 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.

Several other equities research analysts also recently weighed in on SSYS. Needham & Company LLC reduced their price target on Stratasys from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 30th. StockNews.com started coverage on Stratasys in a report on Monday, September 2nd. They issued a “hold” rating on the stock. Cantor Fitzgerald reduced their price target on Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Craig Hallum reduced their price target on Stratasys from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, July 1st. Finally, Lake Street Capital reduced their price target on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.80.

Stratasys Price Performance

Shares of SSYS stock opened at $7.58 on Thursday. Stratasys has a 1 year low of $6.05 and a 1 year high of $14.93. The stock’s 50 day simple moving average is $7.72 and its two-hundred day simple moving average is $9.12. The company has a market cap of $528.02 million, a PE ratio of -4.14 and a beta of 1.18.

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 analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $146.38 million. During the same period in the prior year, the business posted ($0.08) earnings per share. The company’s quarterly revenue was down 13.6% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SSYS. Norges Bank bought a new position in Stratasys in the fourth quarter worth approximately $6,706,000. Millrace Asset Group Inc. grew its stake in Stratasys by 26.1% in the fourth quarter. Millrace Asset Group Inc. now owns 127,635 shares of the technology company’s stock worth $1,823,000 after purchasing an additional 26,450 shares in the last quarter. Olympiad Research LP bought a new position in Stratasys in the fourth quarter worth approximately $486,000. Gabelli Funds LLC grew its stake in Stratasys by 38.3% in the fourth quarter. Gabelli Funds LLC now owns 165,947 shares of the technology company’s stock worth $2,370,000 after purchasing an additional 45,957 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in Stratasys by 87.2% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 104,104 shares of the technology company’s stock worth $1,487,000 after purchasing an additional 48,504 shares in the last quarter. Institutional investors own 75.77% of the company’s stock.

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.