Shares of 3D printing solutions provider Stratasys (NASDAQ:SSYS) are trending lower today. This comes after its third-quarter revenue of $162.1 million remained mostly unchanged year-over-year and was in line with estimates. However, its EPS of $0.04 beat expectations by $0.01.
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During the quarter, printer utilization remained robust. The company remains focused on rolling out new products and expanding its position in systems, materials, software, and customer service.
Amid the current uncertainty in Stratasys’ end markets, it expects revenue for Fiscal Year 2023 to be in the range of $620 million to $630 million. Furthermore, adjusted EBITDA is seen landing between $35 million and $38 million.
What is the Target Price for SSYS Stock?
Overall, the Street has a Strong Buy consensus rating on Stratasys. Following a nearly 25% slide in Stratasys shares over the past six months, the average SSYS price target of $16 points to a hefty 48.6% potential upside in the stock.
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