Royal Bank Of Canada Issues Positive Forecast for Xometry (NASDAQ:XMTR) Stock Price

Xometry (NASDAQ:XMTR) had its target price raised by research analysts at Royal Bank Of Canada from $100.00 to $117.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has a “hold” rating on the stock. Royal Bank Of Canada‘s price target suggests a potential upside of 3.07% from the stock’s previous close.

A number of other research analysts also recently issued reports on XMTR. Weiss Ratings restated a “sell (d-)” rating on shares of Xometry in a research report on Wednesday, August 26th. The Goldman Sachs Group lifted their price target on shares of Xometry from $78.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. UBS Group boosted their price target on shares of Xometry from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Citizens Jmp increased their price objective on shares of Xometry from $120.00 to $135.00 and gave the company a “market outperform” rating in a report on Wednesday. Finally, Cantor Fitzgerald raised their price objective on shares of Xometry from $110.00 to $114.00 and gave the company an “overweight” rating in a research note on Wednesday. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Xometry presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.64.

Xometry Trading Up 2.0%

Shares of XMTR stock opened at $113.52 on Wednesday. The company has a quick ratio of 3.20, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. Xometry has a 12 month low of $35.86 and a 12 month high of $117.50. The business’s 50 day moving average is $97.42 and its two-hundred day moving average is $76.71. The company has a market cap of $5.88 billion, a PE ratio of -333.87 and a beta of 1.33.

Xometry (NASDAQ:XMTR) last posted its earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.09. Xometry had a negative net margin of 1.97% and a positive return on equity of 0.20%. The business had revenue of $252.44 million for the quarter, compared to analyst estimates of $235.54 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. Equities analysts predict that Xometry will post -0.01 EPS for the current year.

Insider Activity at Xometry

In related news, CTO Vaidyanathan Raghavan sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $96.77, for a total value of $483,850.00. Following the completion of the transaction, the chief technology officer owned 135,777 shares of the company’s stock, valued at approximately $13,139,140.29. This trade represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Randolph Altschuler sold 10,000 shares of Xometry stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $90.82, for a total value of $908,200.00. Following the completion of the sale, the director directly owned 551,270 shares in the company, valued at approximately $50,066,341.40. This represents a 1.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 63,199 shares of company stock worth $6,037,855. 9.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Xometry

Several institutional investors and hedge funds have recently modified their holdings of XMTR. Odyssean LLC bought a new stake in Xometry in the second quarter valued at $1,464,000. Zevenbergen Capital Investments LLC boosted its position in shares of Xometry by 115.1% during the 3rd quarter. Zevenbergen Capital Investments LLC now owns 297,552 shares of the company’s stock worth $30,603,000 after purchasing an additional 159,227 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Xometry by 759.5% during the 1st quarter. Quantinno Capital Management LP now owns 32,694 shares of the company’s stock worth $1,335,000 after purchasing an additional 28,890 shares in the last quarter. Sylebra Capital LLC grew its stake in shares of Xometry by 31.3% in the 1st quarter. Sylebra Capital LLC now owns 535,624 shares of the company’s stock valued at $21,875,000 after buying an additional 127,637 shares during the period. Finally, Empowered Funds LLC acquired a new stake in shares of Xometry in the 1st quarter valued at about $1,150,000. 97.31% of the stock is currently owned by institutional investors and hedge funds.

Xometry News Summary

Here are the key news stories impacting Xometry this week:

• Positive Sentiment: Q3 results beat expectations. Xometry reported earnings of $0.28 per share versus consensus of $0.19, and revenue of $252.4 million versus estimates of $235.5 million. Revenue grew 39.5% year over year; coverage also highlighted record revenue and the company’s first GAAP profit. Xometry Q3 earnings and revenue beat estimates
• Positive Sentiment: Marketplace growth points to continued demand. Marketplace revenue rose 43% to $238 million, while active buyers increased 20% year over year to 93,812. RBC also said Xometry’s growth momentum continues. Three Q3 takeaways for long-term investors RBC says Xometry’s growth momentum continues
• Positive Sentiment: Analysts raised several targets after the quarter. JPMorgan lifted its target to $140 and kept an overweight rating; Citizens JMP raised its target to $135, and Citi raised its target to $132 with a buy rating. Rosenblatt also raised its target to $130 and maintained a buy rating. Citi target increase
• Neutral Sentiment: Not all target increases indicate substantial upside. RBC raised its target to $117 but kept a sector-perform rating; Cantor Fitzgerald’s new $114 target is close to the referenced share price. UBS raised its target to $108 but retained a neutral rating, putting its target below that reference price. RBC target increase UBS target increase

Xometry Company Profile

Xometry, Inc (NASDAQ:XMTR) operates a technology-driven marketplace that connects businesses seeking custom parts with a network of manufacturing suppliers. Its platform uses automated pricing, manufacturability analysis and digital workflows to help customers source parts and manage production more efficiently.

The company supports a range of manufacturing processes, including CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other specialized production services.