Markforged (MKFG) Set to Announce Quarterly Earnings on Thursday

Markforged (NYSE:MKFG – Get Rating) is scheduled to release its earnings data after the market closes on Thursday, August 11th. Analysts expect Markforged to post earnings of ($0.09) per share for the quarter. Markforged has set its FY 2022 guidance at -$0.31–$0.28 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Markforged (NYSE:MKFG – Get Rating) last issued its quarterly earnings results on Thursday, May 12th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $21.86 million for the quarter, compared to analysts’ expectations of $20.79 million. Markforged had a net margin of 21.87% and a negative return on equity of 31.45%. On average, analysts expect Markforged to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Markforged Stock Performance

Shares of Markforged stock opened at $2.46 on Thursday. The company has a fifty day moving average of $2.15 and a 200-day moving average of $3.27. Markforged has a 52-week low of $1.72 and a 52-week high of $10.59. The stock has a market capitalization of $462.31 million, a price-to-earnings ratio of -30.75 and a beta of 1.45.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MKFG shares. Berenberg Bank began coverage on Markforged in a report on Friday, June 10th. They set a “buy” rating for the company. Citigroup decreased their target price on shares of Markforged from $5.00 to $3.00 in a research note on Friday, May 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.25.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank boosted its stake in shares of Markforged by 7.8% during the 1st quarter. Swiss National Bank now owns 109,800 shares of the company’s stock valued at $438,000 after purchasing an additional 7,900 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Markforged by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 336,808 shares of the company’s stock worth $1,344,000 after acquiring an additional 8,244 shares during the period. State Street Corp raised its position in shares of Markforged by 1.6% in the 1st quarter. State Street Corp now owns 688,651 shares of the company’s stock worth $2,748,000 after acquiring an additional 10,649 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Markforged in the 1st quarter valued at approximately $34,000. Finally, Bank of America Corp DE grew its stake in Markforged by 243.6% in the first quarter. Bank of America Corp DE now owns 20,109 shares of the company’s stock worth $81,000 after purchasing an additional 14,257 shares during the period. 54.08% of the stock is owned by hedge funds and other institutional investors.

About Markforged

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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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