Markforged (NYSE:MKFG – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of -0.220–0.190 for the period, compared to the consensus earnings per share estimate of -0.200. The company issued revenue guidance of $90.0 million-$95.0 million, compared to the consensus revenue estimate of $98.7 million.
Analyst Upgrades and Downgrades
Separately, Cantor Fitzgerald reduced their target price on Markforged from $1.30 to $0.85 and set an overweight rating for the company in a report on Friday.
Check Out Our Latest Analysis on MKFG
Markforged Stock Down 9.2 %
Markforged (NYSE:MKFG – Get Free Report) last issued its earnings results on Wednesday, May 8th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $20.55 million for the quarter, compared to analyst estimates of $20.26 million. Markforged had a negative return on equity of 29.55% and a negative net margin of 133.52%. As a group, research analysts predict that Markforged will post -0.2 EPS for the current fiscal year.
About Markforged
Markforged Holding Corporation produces and sells 3D printers, materials, software, and other related services worldwide. It offers desktop, industrial, and metal 3D printers; and composite, continuous fiber, and metal parts, as well as advanced 3D printing software. The company serves customers in aerospace, military and defense, food and beverage, industrial automation, space exploration, healthcare, and automotive industries.
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