Stratasys Analysts Cut Their Forecasts After Q2 Results
Portfolio Pulse from Avi Kapoor
Stratasys Ltd. (NASDAQ:SSYS) reported disappointing Q2 results, missing revenue estimates and cutting FY24 guidance. The company plans a 15% workforce reduction to save costs. Analysts lowered their price targets, and the stock fell 9.9%.
August 30, 2024 | 1:28 pm
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Stratasys reported lower-than-expected Q2 revenue and cut its FY24 guidance, leading to a 9.9% drop in stock price. The company plans a 15% workforce reduction to save costs. Analysts lowered their price targets.
Stratasys missed Q2 revenue estimates and cut its FY24 guidance, which is a negative signal for investors. The planned workforce reduction indicates cost-saving measures but also potential operational challenges. Analysts' lowered price targets reflect reduced confidence in the stock's short-term performance, contributing to the 9.9% drop in stock price.
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