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Stratasys (SSYS - Free Report) recently announced that it has acquired the California-based quality assurance software startup Riven. However, the company did not disclose the financial terms of the transaction.
Riven’s cloud-based Warp Adaptive Modeling software helps users quickly inspect, diagnose and automatically correct deviations between computer-aided design (CAD) files and actual printed parts. This results in producing more accurate parts at a lower cost. The company is testing a new version that uses artificial intelligence to pre-adjust models automatically.
Stratasys intends to fully integrate Riven’s software into its GrabCAD Additive Manufacturing Platform, which is an open and enterprise-ready software platform that enables manufacturers to manage production-scale additive manufacturing operations. With this integration, SSYS will be able to help its customers scale their shipments of 3D-printed end-use parts while minimizing waste through fewer iterations.
Stratasys is benefiting from an increase in the demand for 3D printed materials. Per the Fortune Business Insights report, the global 3D printing market is expected to reach $83.90 billion by 2029, representing a CAGR of 24.3% through the 2022-2029 period. As the industry leader in 3D printing, this is encouraging for Stratasys as it will be able to grab a large share of this market.
Moreover, SSYS’ cost-control initiatives are expected to reflect positively on expenses in the forthcoming quarters. A firm focus on launching products and entering into partnerships is a key driver. In the last reported quarter, Stratasys registered growth across key metrics, including revenues, earnings and cash flows.
In the second quarter of 2022, Stratasys’ revenues jumped 13.3% year over year to $166.6 million and surpassed the Zacks Consensus Estimate of $166 million. The company reported non-GAAP earnings of 2 cents per share for the quarter, which compared favorably with the year-ago quarter’s loss of 2 cents as well as the Zacks Consensus Estimate of a loss of 3 cents.
Zacks Rank & Stocks to Consider
Currently, Stratasys carries a Zacks Rank #4 (Sell). Shares of SSYS have plunged 40.5% year to date (YTD).
The Zacks Consensus Estimate for Digi’s first-quarter fiscal 2023 earnings has increased by 4 cents to 42 cents per share over the past 90 days. For fiscal 2023, earnings estimates have moved 6.2% up to $1.88 per share in the past 60 days.
DGII's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 28.6%. Shares of the company have increased 60.4% YTD.
The Zacks Consensus Estimate for Zscaler's first-quarter fiscal 2023 earnings has been revised 7 cents north to 26 cents per share over the past 60 days. For fiscal 2023, earnings estimates have moved a penny north to $1.18 per share in the past 30 days.
ZS’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 28.6%. Shares of the company have declined 51.9% YTD.
The Zacks Consensus Estimate for Baidu's fourth-quarter 2022 earnings has been revised 4 cents northward to $2.79 per share over the past 30 days. For 2022, earnings estimates have moved downward by 11 cents to $9.05 per share in the past 30 days.
Baidu's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 58.1%. Shares of BIDU have slumped 45.7% YTD.
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Stratasys (SSYS) Buys Quality Assurance Software Maker Riven
Stratasys (SSYS - Free Report) recently announced that it has acquired the California-based quality assurance software startup Riven. However, the company did not disclose the financial terms of the transaction.
Riven’s cloud-based Warp Adaptive Modeling software helps users quickly inspect, diagnose and automatically correct deviations between computer-aided design (CAD) files and actual printed parts. This results in producing more accurate parts at a lower cost. The company is testing a new version that uses artificial intelligence to pre-adjust models automatically.
Stratasys intends to fully integrate Riven’s software into its GrabCAD Additive Manufacturing Platform, which is an open and enterprise-ready software platform that enables manufacturers to manage production-scale additive manufacturing operations. With this integration, SSYS will be able to help its customers scale their shipments of 3D-printed end-use parts while minimizing waste through fewer iterations.
Stratasys, Ltd. Price and Consensus
Stratasys, Ltd. price-consensus-chart | Stratasys, Ltd. Quote
Stratasys is benefiting from an increase in the demand for 3D printed materials. Per the Fortune Business Insights report, the global 3D printing market is expected to reach $83.90 billion by 2029, representing a CAGR of 24.3% through the 2022-2029 period. As the industry leader in 3D printing, this is encouraging for Stratasys as it will be able to grab a large share of this market.
Moreover, SSYS’ cost-control initiatives are expected to reflect positively on expenses in the forthcoming quarters. A firm focus on launching products and entering into partnerships is a key driver. In the last reported quarter, Stratasys registered growth across key metrics, including revenues, earnings and cash flows.
In the second quarter of 2022, Stratasys’ revenues jumped 13.3% year over year to $166.6 million and surpassed the Zacks Consensus Estimate of $166 million. The company reported non-GAAP earnings of 2 cents per share for the quarter, which compared favorably with the year-ago quarter’s loss of 2 cents as well as the Zacks Consensus Estimate of a loss of 3 cents.
Zacks Rank & Stocks to Consider
Currently, Stratasys carries a Zacks Rank #4 (Sell). Shares of SSYS have plunged 40.5% year to date (YTD).
Some better-ranked stocks from the broader Computer and Technology sector are Digi International (DGII - Free Report) , Zscaler (ZS - Free Report) and Baidu (BIDU - Free Report) . Digi and Zscaler each sport a Zacks Rank #1 (Strong Buy) at present, while Baidu carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Digi’s first-quarter fiscal 2023 earnings has increased by 4 cents to 42 cents per share over the past 90 days. For fiscal 2023, earnings estimates have moved 6.2% up to $1.88 per share in the past 60 days.
DGII's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 28.6%. Shares of the company have increased 60.4% YTD.
The Zacks Consensus Estimate for Zscaler's first-quarter fiscal 2023 earnings has been revised 7 cents north to 26 cents per share over the past 60 days. For fiscal 2023, earnings estimates have moved a penny north to $1.18 per share in the past 30 days.
ZS’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 28.6%. Shares of the company have declined 51.9% YTD.
The Zacks Consensus Estimate for Baidu's fourth-quarter 2022 earnings has been revised 4 cents northward to $2.79 per share over the past 30 days. For 2022, earnings estimates have moved downward by 11 cents to $9.05 per share in the past 30 days.
Baidu's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 58.1%. Shares of BIDU have slumped 45.7% YTD.