Markforged Holding Corporation (NYSE:MKFG) Expected to Announce Earnings of -$0.08 Per Share

Equities analysts predict that Markforged Holding Corporation (NYSE:MKFG) will post earnings of ($0.08) per share for the current quarter, Zacks reports. Two analysts have issued estimates for Markforged’s earnings, with the lowest EPS estimate coming in at ($0.09) and the highest estimate coming in at ($0.06). The firm is scheduled to issue its next earnings report on Wednesday, February 9th.

According to Zacks, analysts expect that Markforged will report full year earnings of ($0.08) per share for the current year. For the next year, analysts anticipate that the company will post earnings of ($0.28) per share, with EPS estimates ranging from ($0.31) to ($0.24). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Markforged.

Markforged (NYSE:MKFG) last released its quarterly earnings results on Wednesday, November 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The company had revenue of $24.05 million for the quarter, compared to analysts’ expectations of $21.66 million.

A number of equities analysts recently commented on MKFG shares. Craig Hallum began coverage on shares of Markforged in a research note on Tuesday, December 14th. They set a “buy” rating and a $10.00 price target for the company. They noted that the move was a valuation call. Zacks Investment Research raised shares of Markforged from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a research report on Wednesday. Finally, The Goldman Sachs Group began 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Markforged presently has a consensus rating of “Buy” and a consensus price target of $9.55.

In other news, CEO Shai Terem sold 15,791 shares of the company’s stock in a transaction that occurred on Monday, November 15th. The shares were sold at an average price of $7.20, for a total value of $113,695.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 19,329 shares of company stock valued at $139,070 in the last ninety days.

Several hedge funds and other institutional investors have recently bought and sold shares of MKFG. Public Employees Retirement System of Ohio bought a new position in shares of Markforged during the 2nd quarter worth approximately $2,370,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Markforged during the 3rd quarter worth approximately $27,948,000. Ballentine Partners LLC bought a new position in shares of Markforged during the 3rd quarter worth approximately $328,000. Victory Capital Management Inc. bought a new position in shares of Markforged during the 3rd quarter worth approximately $135,000. Finally, Wade G W & Inc. bought a new position in shares of Markforged during the 3rd quarter worth approximately $828,000. Hedge funds and other institutional investors own 28.36% of the company’s stock.

Shares of MKFG stock traded down $0.27 during trading hours on Friday, reaching $4.90. 987,994 shares of the stock were exchanged, compared to its average volume of 658,913. Markforged has a 12-month low of $4.72 and a 12-month high of $15.10. The stock’s 50-day moving average is $6.07.

Markforged Company Profile

oneis a blank check company organized for the purpose of effecting a business combination with one or more target businesses. one’s efforts to identify a prospective partner business will not be limited to a particular industry or geographic region, although it intends to focus its search on partner businesses operating in North America in the innovation economy.

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