Markforged (US:MKFG) ZACKS·2024-08-14 17:00Core Viewpoint - Markforged Holding Corporation (MKFG) has been upgraded to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system emphasizes the importance of changing earnings estimates in determining near-term stock price movements, making it a valuable tool for investors [2][4]. - The correlation between earnings estimate revisions and stock price movements is strong, with institutional investors using these estimates to assess fair value [4]. Company Performance Indicators - The recent upgrade indicates an improvement in Markforged's underlying business, suggesting that investors may respond positively by driving the stock price higher [5]. - Markforged is expected to earn -$0.20 per share for the fiscal year ending December 2024, reflecting a year-over-year change of 23.1% [8]. - Over the past three months, the Zacks Consensus Estimate for Markforged has increased by 2.5%, indicating a positive trend in earnings estimates [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with only the top 20% receiving a 'Strong Buy' or 'Buy' rating [9][10]. - The upgrade of Markforged to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].