zSpace (NASDAQ:ZSPC) Announces Quarterly Earnings Results, Misses Estimates 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) posted its quarterly earnings results 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.

zSpace Price Performance

Shares of ZSPC stock traded down $0.10 during trading hours on Thursday, reaching $2.54. The company's stock had a trading volume of 124,096 shares, compared to its average volume of 71,623. zSpace has a one year low of $1.97 and a one year high of $32.69. The firm's fifty day simple moving average is $3.13 and its 200 day simple moving average is $8.17.

Institutional Investors Weigh In On zSpace

An institutional investor recently bought a new position in zSpace stock. XTX Topco Ltd purchased a new stake in shares of zSpace, Inc (NASDAQ:ZSPC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 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.

Wall Street Analysts Forecast Growth

Separately, Barrington Research cut their price objective on zSpace from $11.00 to $10.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, zSpace currently has a consensus rating of "Buy" and a consensus price target of $15.00.

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.

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