Shares of polymer 3-D printing solutions provider Stratasys (NASDAQ:SSYS) are trending upward in the pre-market session today after the company delivered better-than-expected first-quarter numbers.
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While revenue declined 8.6% year-over-year to $149.4 million, the figure still came in ahead of expectations by about $4.4 million. Additionally, EPS at $0.02 outperformed the Street’s estimates by a hefty $0.08.
The company is seeing gains across consumables and customer service and expects to drive its higher-margin consumables offerings with the recent acquisition of Covestro’s additive manufacturing unit.
Looking ahead, for the full year 2023, Stratasys expects revenue to range between $630 million and $670 million. EPS for the year is anticipated between $0.12 and $0.24.
Overall, the Street has a $17.75 consensus price target on SSYS alongside a Strong Buy consensus rating.
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