Markforged (NYSE:MKFG) Issues FY 2022 Earnings Guidance

Markforged (NYSE:MKFGGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of -$0.31–$0.28 for the period, compared to the consensus EPS 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.

A number of equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Markforged from a hold rating to a sell rating in a report on Tuesday, May 17th. Citigroup decreased their price objective on shares of Markforged from $5.00 to $3.00 in a report on Friday, May 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Buy and an average price target of $7.45.

MKFG opened at $2.32 on Thursday. The firm has a market cap of $436.00 million, a P/E ratio of -29.00 and a beta of 0.94. Markforged has a 1-year low of $2.21 and a 1-year high of $11.00. The company has a 50 day simple moving average of $3.20 and a two-hundred day simple moving average of $4.28.

Markforged (NYSE:MKFGGet Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. Markforged had a net margin of 21.87% and a negative return on equity of 31.45%. The business had revenue of $21.86 million during the quarter, compared to analyst estimates of $20.79 million. Equities research analysts expect that Markforged will post -0.28 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of MKFG. Vanguard Group Inc. raised its position in Markforged by 334.3% during the 1st quarter. Vanguard Group Inc. now owns 4,236,319 shares of the company’s stock worth $16,902,000 after buying an additional 3,260,928 shares during the last quarter. Neuberger Berman Group LLC purchased a new stake in Markforged in the 1st quarter worth $10,582,000. Wasatch Advisors Inc. boosted its stake in Markforged by 22.5% during the 1st quarter. Wasatch Advisors Inc. now owns 7,935,740 shares of the company’s stock worth $31,664,000 after purchasing an additional 1,457,313 shares during the last quarter. State Street Corp boosted its stake in Markforged by 227.7% during the 4th quarter. State Street Corp now owns 678,002 shares of the company’s stock worth $3,641,000 after purchasing an additional 471,102 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Markforged by 683.2% during the 4th quarter. Marshall Wace LLP now owns 270,369 shares of the company’s stock worth $1,452,000 after purchasing an additional 235,849 shares during the last quarter. 54.08% of the stock is currently owned by institutional investors and hedge funds.

About Markforged (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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