Stratasys Stock Jumps 13% on Earnings and Revenue Beats
Shares of Stratasys (NASDAQ: SSYS) gained 12.7% on Tuesday, following the 3D printing company's release of its first-quarter 2022 results on the prior afternoon.
No doubt, the stock got a brisk tailwind from overall market dynamics, as the S&P 500 and tech-heavy Nasdaq Composite rose 2% and 2.2%, respectively, on Tuesday. Moreover, shares of rival 3D Systems popped 6.6% on no news.
However, a sizable portion of Stratasys stock's surge is attributable to the company's first-quarter revenue and earnings coming in higher than the Wall Street consensus estimates. Investors were also probably at least satisfied that management slightly increased the midpoint of its full-year 2022 revenue guidance and reiterated its 2022 earnings outlook.
Source Fool.com
