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Stratasys' (SSYS) Regular Updates Suggest Bright Prospects

Zacks Equity Research
·3 min read

Stratasys SSYS is known for releasing updates regularly to boost its additive manufacturing capabilities, which indicates bright prospects for the company in the long term. These updates are tailored to the needs of customers.

In the first quarter, SSYS released F3300, establishing a new Fused Deposition Modeling (FDM) standard for industrial MFG with up to 2X throughput of standard FDM. It already has Nissan, BAE Systems, Sikorsky and Toyota as its customers.

The company has released significant updates to its Industrial and Healthcare Business Unit products and Stratasys Direct, including the introduction of a new open platform for the F900 3D printer, more on-demand 3D printing capabilities and a new high-performance material for its FDM line.

The Stratasys OpenAM software, previously available for the Fortus 450 mc, is now available for the F900 printer, enabling users to modify machine controls for enhanced printing results and expanded material options.

SSYS also announced the validation of Somos NeXt resin for NEO stereolithography printers, enhancing the material options for automotive, consumer products and prototyping applications. These updates collectively highlight Stratasys' commitment to innovation and customer-centric improvements in additive manufacturing.

Stratasys, Ltd. Price and Consensus

Stratasys, Ltd. Price and Consensus
Stratasys, Ltd. Price and Consensus

Stratasys, Ltd. price-consensus-chart | Stratasys, Ltd. Quote

SSYS’ Advancements in Additive Manufacturing to Aid Top-Line Growth

Stratasys has made some notable advancements in additive manufacturing. These recent advancements in additive manufacturing are expected to aid SSYS’ top line in the upcoming quarters.

For 2024, management projects revenues between $630 million and $645 million, and non-GAAP earnings per share in the range of 12-19 cents.

The Zacks Consensus Estimate for Stratasys’ 2024 revenues is pegged at $634.66 million, indicating year-over-year growth of 1.13%. The consensus estimate for 2024 earnings is pegged at 15 cents per share, indicating year-over-year growth of 36.36%.

Stratasys recently announced its new SAF HighDef Printing capabilities and the launch of the H350 V1.5 printer, which are aimed at enhancing precision and detail in additive manufacturing. These new high-definition features enable manufacturers, particularly in aerospace, automotive and healthcare sectors, to produce intricate and reliable parts with tight tolerances and smooth features.

SSYS also launched its Direct-to-Garment solution for the J850 TechStyle printer, revolutionizing personalized fashion and sustainability with its 3DFashion direct-to-textile printing technology. This new solution allows full-color multi-material 3D printing directly on fully assembled garments, supporting customization on various fabrics like denim, cotton, polyester and linen. The technology enables fashion brands to create bespoke and personalized designs, enhancing the character and sustainability of their clothing lines.

The company also launched two new software packages, GrabCAD Streamline Pro and an updated version of GrabCAD Print Pro for PolyJet, which are aimed at enhancing efficiency and reducing costs in additive manufacturing workflows. The updated GrabCAD Print Pro for PolyJet extends advanced capabilities to PolyJet technology, enhancing the overall Stratasys solution for industries like automotive, aerospace and healthcare.

Shares of this Zacks Rank #3 (Hold) company have plunged 32.3% year to date against the Zacks Computer and Technology sector’s 19.3% growth due to tough competition in the printer market from dominant players like Seiko Epson SEKEY, Konica Minolta KNCAY and Hewlett Packard Enterprise HPE. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Seiko Epson leads with a staggering 33% market share, followed by Konica Minolta with 19% and HPE with approximately 5% market share. Stratasys has a total market share of 7%, according to a report by enlyft.

SSYS has established a new Industrial Customer Advisory Board to collect feedback and insights from its customers. This initiative is designed to boost innovation in the additive manufacturing sector by amplifying customers’ voices. These are expected to help Stratasys stay ahead of its competitors.

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