Stratasys (NASDAQ:SSYS) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Stratasys (NASDAQ:SSYS) posted its quarterly earnings data on Thursday. The technology company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02, reports. The firm had revenue of $162.13 million for the quarter, compared to the consensus estimate of $161.72 million. Stratasys had a negative net margin of 17.53% and a negative return on equity of 1.96%. Stratasys updated its FY23 guidance to $0.10-0.14 EPS and its FY 2023 guidance to $0.10-$0.14 EPS.

Stratasys Stock Performance

Stratasys stock opened at $10.83 on Friday. Stratasys has a 1 year low of $9.95 and a 1 year high of $21.72. The firm’s 50-day moving average is $11.62 and its 200-day moving average is $14.73.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com started coverage on shares of Stratasys in a research report on Saturday, November 11th. They set a “buy” rating on the stock. Needham & Company LLC reduced their target price on Stratasys from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday.

Institutional Investors Weigh In On Stratasys

A number of institutional investors have recently modified their holdings of SSYS. Capital Analysts LLC bought a new position in shares of Stratasys during the first quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Stratasys by 73.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,103 shares of the technology company’s stock valued at $35,000 after buying an additional 890 shares during the last quarter. CWM LLC boosted its holdings in shares of Stratasys by 2,633.3% during the third quarter. CWM LLC now owns 3,280 shares of the technology company’s stock valued at $45,000 after acquiring an additional 3,160 shares during the period. FMR LLC grew its position in shares of Stratasys by 12,707.1% during the third quarter. FMR LLC now owns 3,586 shares of the technology company’s stock worth $49,000 after acquiring an additional 3,558 shares during the last quarter. Finally, Nemes Rush Group LLC acquired a new stake in shares of Stratasys in the 2nd quarter worth about $53,000. Institutional investors own 72.65% of the company’s stock.

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 SAF printer for manufacturing, tooling and rapid prototyping, and various vertical markets, such as automotive, aerospace, consumer products and healthcare.