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The latest hype in the market has certainly been artificial intelligence. All of the AI-related tickers have been going absolutely nuts. It’s on par with the crypto boom we saw a few years ago, where all the blockchain-related names skyrocketed. There are some other huge investment themes of yesteryear which have recently left the spotlight. Among those are today’s Bull of the Day, the 3D printing industry.
Today’s Bull of the Day is Zacks Rank #1 (Strong Buy) Stratasys (SSYS - Free Report) ). Stratasys is a global leader in the 3D printing industry, providing solutions for professional and industrial applications. The company's product portfolio includes 3D printers, materials, software, and services. Stratasys' technology allows customers to create physical objects from digital designs, enabling them to accelerate product development, streamline manufacturing processes, and produce customized products.
The reason for the favorable rank is that several analysts across Wall Street have increased their earnings estimates recently. Over the last sixty days, two analysts have increased their full year earnings estimates. It is next year where the numbers really start to get good though. Next year’s Zacks Consensus Estimate of 28 cents represents growth of 91% over the current year.
Image Source: Zacks Investment Research
There has been some recent momentum in earnings, with several reports coming in better than expectations. Last quarter’s 7-cent EPS number beat the Zacks Consensus Estimate by 5 cents. That was the latest in a line of earnings beats dating back 9 consecutive quarters.
Growth has slowed on the topline, however. Current year estimates call for a 2.89% contraction to $632.67 million. The good news is, there is a return to growth forecast for next year. Analysts are calling for $669.08 million in sales for FY2024. That represents growth of 5.76% over this year.
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Bull of the Day: Stratasys (SSYS)
The latest hype in the market has certainly been artificial intelligence. All of the AI-related tickers have been going absolutely nuts. It’s on par with the crypto boom we saw a few years ago, where all the blockchain-related names skyrocketed. There are some other huge investment themes of yesteryear which have recently left the spotlight. Among those are today’s Bull of the Day, the 3D printing industry.
Today’s Bull of the Day is Zacks Rank #1 (Strong Buy) Stratasys (SSYS - Free Report) ). Stratasys is a global leader in the 3D printing industry, providing solutions for professional and industrial applications. The company's product portfolio includes 3D printers, materials, software, and services. Stratasys' technology allows customers to create physical objects from digital designs, enabling them to accelerate product development, streamline manufacturing processes, and produce customized products.
The reason for the favorable rank is that several analysts across Wall Street have increased their earnings estimates recently. Over the last sixty days, two analysts have increased their full year earnings estimates. It is next year where the numbers really start to get good though. Next year’s Zacks Consensus Estimate of 28 cents represents growth of 91% over the current year.
Image Source: Zacks Investment Research
There has been some recent momentum in earnings, with several reports coming in better than expectations. Last quarter’s 7-cent EPS number beat the Zacks Consensus Estimate by 5 cents. That was the latest in a line of earnings beats dating back 9 consecutive quarters.
Growth has slowed on the topline, however. Current year estimates call for a 2.89% contraction to $632.67 million. The good news is, there is a return to growth forecast for next year. Analysts are calling for $669.08 million in sales for FY2024. That represents growth of 5.76% over this year.