Markforged (NYSE:MKFG) Releases FY 2022 Earnings Guidance

Markforged (NYSE:MKFGGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of -$0.31–$0.28 for the period, compared to the consensus estimate of -$0.29. The company issued revenue guidance of $114.00 million-$123.00 million, compared to the consensus revenue estimate of $119.41 million.

Shares of NYSE:MKFG opened at $2.96 on Thursday. The firm’s 50 day moving average is $3.62 and its two-hundred day moving average is $4.77. Markforged has a 52 week low of $2.48 and a 52 week high of $11.00.

Markforged (NYSE:MKFGGet Rating) last issued its quarterly earnings data on Tuesday, March 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). Markforged had a negative return on equity of 31.45% and a net margin of 21.87%. The business had revenue of $26.64 million during the quarter, compared to analyst estimates of $24.70 million. Sell-side analysts predict that Markforged will post -0.28 EPS for the current year.

Several equities research analysts recently weighed in on the stock. Citigroup reduced their price objective on shares of Markforged from $5.00 to $3.00 in a report on Friday, May 13th. Zacks Investment Research lowered shares of Markforged from a hold rating to a sell rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $7.45.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Markforged by 334.3% during the first quarter. Vanguard Group Inc. now owns 4,236,319 shares of the company’s stock valued at $16,902,000 after purchasing an additional 3,260,928 shares during the last quarter. Wasatch Advisors Inc. lifted its stake in Markforged by 22.5% during the first quarter. Wasatch Advisors Inc. now owns 7,935,740 shares of the company’s stock valued at $31,664,000 after buying an additional 1,457,313 shares in the last quarter. State Street Corp boosted its holdings in shares of Markforged by 227.7% in the fourth quarter. State Street Corp now owns 678,002 shares of the company’s stock worth $3,641,000 after buying an additional 471,102 shares during the period. Marshall Wace LLP increased its position in shares of Markforged by 683.2% in the fourth quarter. Marshall Wace LLP now owns 270,369 shares of the company’s stock worth $1,452,000 after acquiring an additional 235,849 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Markforged during the first quarter valued at approximately $634,000. Hedge funds and other institutional investors own 54.08% of the company’s stock.

Markforged Company Profile (Get Rating)

Markforged Holding Corporation produces and sells 3D printers, materials, software, and other related services worldwide. The company offers desktop, industrial, and metal 3D printers; and composite, continuous fiber, and metal parts, as well as advanced 3D printing software. It serves customers in aerospace, military and defense, industrial automation, space exploration, healthcare, and automotive industries.

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