Stratasys (SSYS) Buys Quality Assurance Software Maker Riven

Zacks Equity Research

26 October 2022 at 9:30 am·4-min read

Stratasys SSYS 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, Zscaler ZS and Baidu BIDU. 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.

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