Markforged Holding (MKFG) has received a new Buy rating, initiated by Cantor Fitzgerald analyst, Troy Jensen.
Troy Jensen has given his Buy rating due to a combination of factors centered around Markforged Holding’s distinctive product offerings and favorable market position. Jensen recognizes that Markforged possesses an innovative array of products, including continuous carbon fiber printers and metal binder jetting technologies, complemented by their Digital Forge software platform. The synergy of these advanced hardware options and leading software solutions positions Markforged uniquely in the market, allowing them to outperform their competition in production applications, which is a key driver for growth. Additionally, Jensen sees value in the company due to its new product cycles, built-up demand anticipated for 2024, and its compelling valuation, making it an attractive investment at the current price levels.
Furthermore, Markforged’s stock is seen as having limited downside risk due to the significant sell-off in the latter half of 2023, which brought the share price to all-time lows. This sell-off occurred despite consistent growth and an expanding active printer base, and the current market capitalization aligns closely with the company’s cash position, suggesting the market is undervaluing the enterprise. Moreover, Jensen views Markforged as a prime candidate for industry consolidation, given its leadership in continuous carbon fiber technology and its acquisition of Digital Metal, which brought metal binder jetting technology into its portfolio. These factors, combined with the industry’s growing interest in consolidation, position Markforged as a potentially attractive acquisition target.
In another report released on February 22, Lake Street also assigned a Buy rating to the stock with a $1.50 price target.
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Markforged Holding (MKFG) Company Description:
One is a blank check company.
