Why Is 3D Printing Company Stratasys Stock Surging Today?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 16 2024
0mins
Source: Benzinga
Share Repurchase Program: Stratasys, Ltd. has approved a $50 million share repurchase program as part of its strategy to enhance shareholder value, following a restructuring plan aimed at saving $40 million annually by 2025.
Financial Performance: The company reported fiscal Q2 2024 revenue of $138.04 million, missing analyst estimates, while holding cash and equivalents of $150.86 million at the end of the quarter; SSYS shares rose 4.68% in premarket trading.
Analyst Views on SSYS
Wall Street analysts forecast SSYS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SSYS is 13.17 USD with a low forecast of 12.00 USD and a high forecast of 14.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 11.500
Low
12.00
Averages
13.17
High
14.00
Current: 11.500
Low
12.00
Averages
13.17
High
14.00
About SSYS
Stratasys Ltd. provides polymer-based 3D printing solutions for industries such as aerospace, automotive, consumer products and healthcare. The Company's solutions consist of 3D printing systems, consumables, software, paid parts, and professional services and encompass everything from prototyping and design all the way through production. Its printers include F3300, FDM Fortus 450mc, PolyJet J3 DentaJet, P3 DLP Origin One Dental, SLA Neo, PolyJet J5 Digital Anatomy, and Powder Bed Fusion SAF H350. The Company's technologies include FDM Technology, PolyJet Technology, P3 DLP Technology, SAF Technology, Stereolithography Technology and 3DFashion Technology. Its FDM 3D printing technology has the ability to use a variety of production grade thermoplastic materials featuring surface resolution, chemical and heat resistance, color, and mechanical properties necessary for production of functional prototypes and parts for a variety of industries with specific demands and requirements.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
