Markforged (NYSE:MKFG) Issues FY 2022 Earnings Guidance

Markforged (NYSE:MKFGGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $-0.310-$-0.280 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.310. The company issued revenue guidance of $114 million-$123 million, compared to the consensus revenue estimate of $120.34 million.

MKFG opened at $3.76 on Tuesday. Markforged has a one year low of $2.95 and a one year high of $11.00. The business’s fifty day moving average price is $4.06.

Markforged (NYSE:MKFGGet Rating) last announced its quarterly earnings data on Tuesday, March 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.07). The firm had revenue of $26.64 million for the quarter, compared to analyst estimates of $24.70 million. As a group, equities analysts predict that Markforged will post -0.28 EPS for the current year.

Several equities analysts recently issued reports on MKFG shares. Craig Hallum began coverage on Markforged in a research note on Tuesday, December 14th. They set a buy rating and a $10.00 price target on the stock. They noted that the move was a valuation call. The Goldman Sachs Group assumed coverage on shares of Markforged in a research report on Tuesday, December 21st. They issued a buy rating and a $6.50 price objective for the company. Finally, Zacks Investment Research cut Markforged from a buy rating to a hold rating in a report on Tuesday, March 22nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Markforged has a consensus rating of Buy and a consensus target price of $9.25.

In other Markforged news, major shareholder Gregory Mark sold 35,472 shares of the business’s stock in a transaction on Tuesday, January 18th. The shares were sold at an average price of $4.82, for a total transaction of $170,975.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 234,408 shares of company stock worth $1,072,240 over the last three months.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in Markforged by 164.3% in the fourth quarter. Bank of America Corp DE now owns 5,852 shares of the company’s stock valued at $31,000 after acquiring an additional 3,638 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Markforged by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 328,564 shares of the company’s stock worth $1,765,000 after buying an additional 4,865 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Markforged during the 4th quarter valued at $34,000. Legal & General Group Plc bought a new position in shares of Markforged during the 4th quarter valued at $47,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Markforged in the 4th quarter worth $72,000. Hedge funds and other institutional investors own 47.41% of the company’s stock.

Markforged Company Profile (Get Rating)

Markforged Holding Corporation designs, develops, and manufactures industrial 3D printers. The company offers end-to-end metal and carbon fiber 3D printers; 3D printer for continuous fiberglass reinforced parts; refined FFF 3D printer for micro carbon fiber filled nylon parts; fiber composite 3D printer; and FFF desktop 3D printer for micro carbon fiber filled nylon parts.

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