zSpace (NASDAQ:ZSPC) Posts Quarterly Earnings Results, Misses Expectations By $0.11 EPS

Key Points

• zSpace reported quarterly earnings of ($0.27) EPS, missing estimates by $0.11 and highlighting ongoing financial challenges for the company.
• The stock traded down to $2.54 following the earnings report, with a significant drop from a one-year high of $32.69.
• Despite the earnings miss, zSpace retains a consensus rating of "Buy" from analysts, with a revised price target of $10.00.

zSpace (NASDAQ:ZSPC - Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.11), Zacks reports. The company had revenue of $7.46 million for the quarter, compared to analyst estimates of $7.59 million.

zSpace Price Performance

Shares of zSpace stock traded down $0.06 during trading hours on Tuesday, hitting $2.17. The company's stock had a trading volume of 70,682 shares, compared to its average volume of 125,217. zSpace has a 1-year low of $1.97 and a 1-year high of $32.69. The business has a fifty day moving average of $2.96 and a 200 day moving average of $7.74.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Roth Capital reissued a "buy" rating and set a $5.00 price objective (down previously from $12.00) on shares of zSpace in a research note on Friday. Barrington Research dropped their price target on shares of zSpace from $10.00 to $5.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Wall Street Zen lowered shares of zSpace from a "hold" rating to a "sell" rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat, zSpace currently has a consensus rating of "Buy" and a consensus price target of $10.00.

Institutional Investors Weigh In On zSpace

An institutional investor recently bought a new position in zSpace stock. XTX Topco Ltd acquired a new position in zSpace, Inc (NASDAQ:ZSPC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,929 shares of the company's stock, valued at approximately $39,000. XTX Topco Ltd owned approximately 0.05% of zSpace as of its most recent SEC filing.

zSpace Company Profile

zSpace Technologies, Inc is a provider of commercial augmented reality and virtual reality technology principally in the education market. The Company offers differentiated hardware along with learning software modules for K-12 science, technology, engineering, game design and mathematics applications, as well as workforce-oriented career and technical education applications.