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Stratasys (SSYS) Soars 6.2%: Is Further Upside Left in the Stock?
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Stratasys (SSYS - Free Report) shares ended the last trading session 6.2% higher at $17.24. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.3% gain over the past four weeks.
The upswing came after Stratasys confirmed that Nano Dimension has increased its offer price of unsolicited partial tender offer to acquire Stratasys’ shares that are not owned by Nano to $20.05 per share in cash from $18.
This maker of 3D printers is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of -250%. Revenues are expected to be $153.24 million, down 8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Stratasys, the consensus EPS estimate for the quarter has been revised 13.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on SSYS going forward to see if this recent jump can turn into more strength down the road.
Stratasys is part of the Zacks Computer - Peripheral Equipment industry. Logitech (LOGI - Free Report) , another stock in the same industry, closed the last trading session 3.8% higher at $57.33. LOGI has returned -16% in the past month.
For Logitech, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.46. This represents a change of -37.8% from what the company reported a year ago. Logitech currently has a Zacks Rank of #3 (Hold).
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Stratasys (SSYS) Soars 6.2%: Is Further Upside Left in the Stock?
Stratasys (SSYS - Free Report) shares ended the last trading session 6.2% higher at $17.24. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.3% gain over the past four weeks.
The upswing came after Stratasys confirmed that Nano Dimension has increased its offer price of unsolicited partial tender offer to acquire Stratasys’ shares that are not owned by Nano to $20.05 per share in cash from $18.
This maker of 3D printers is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of -250%. Revenues are expected to be $153.24 million, down 8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Stratasys, the consensus EPS estimate for the quarter has been revised 13.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on SSYS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Stratasys is part of the Zacks Computer - Peripheral Equipment industry. Logitech (LOGI - Free Report) , another stock in the same industry, closed the last trading session 3.8% higher at $57.33. LOGI has returned -16% in the past month.
For Logitech, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.46. This represents a change of -37.8% from what the company reported a year ago. Logitech currently has a Zacks Rank of #3 (Hold).