Wedbush Boosts Xometry (NASDAQ:XMTR) Price Target to $70.00

Xometry (NASDAQ:XMTR) had its target price raised by equities researchers at Wedbush from $48.00 to $70.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target would indicate a potential upside of 11.79% from the company’s current price.

XMTR has been the subject of a number of other reports. JMP Securities set a $75.00 target price on shares of Xometry in a research note on Wednesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Xometry in a research note on Wednesday, October 8th. Cantor Fitzgerald raised shares of Xometry from an “underweight” rating to a “neutral” rating and set a $41.00 price objective on the stock in a report on Tuesday, August 5th. The Goldman Sachs Group reissued a “neutral” rating and issued a $49.00 target price (up from $42.00) on shares of Xometry in a research report on Thursday, October 16th. Finally, UBS Group lifted their price target on Xometry from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $49.30.

Xometry Trading Down 0.0%

Shares of NASDAQ:XMTR opened at $62.62 on Wednesday. The business’s 50-day moving average is $50.96 and its 200 day moving average is $40.26. The company has a debt-to-equity ratio of 1.20, a current ratio of 3.91 and a quick ratio of 3.85. Xometry has a 1 year low of $18.59 and a 1 year high of $62.72. The firm has a market capitalization of $3.18 billion, a P/E ratio of -50.37 and a beta of 0.87.

Xometry (NASDAQ:XMTR) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.04. Xometry had a negative return on equity of 6.79% and a negative net margin of 10.20%.The business had revenue of $162.55 million during the quarter, compared to the consensus estimate of $156.53 million. During the same quarter last year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis. On average, research analysts predict that Xometry will post -0.66 earnings per share for the current fiscal year.

Insider Transactions at Xometry

In other news, CEO Randolph Altschuler sold 9,331 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $50.31, for a total value of $469,442.61. Following the completion of the transaction, the chief executive officer owned 310,271 shares of the company’s stock, valued at $15,609,734.01. The trade was a 2.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO James Miln sold 598 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $50.25, for a total value of $30,049.50. Following the completion of the sale, the chief financial officer owned 144,115 shares in the company, valued at $7,241,778.75. The trade was a 0.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 9.66% of the company’s stock.

Hedge Funds Weigh In On Xometry

Several large investors have recently made changes to their positions in XMTR. State of Wyoming boosted its holdings in Xometry by 30.2% during the third quarter. State of Wyoming now owns 5,181 shares of the company’s stock worth $282,000 after buying an additional 1,202 shares in the last quarter. Arizona State Retirement System increased its holdings in Xometry by 2.0% in the third quarter. Arizona State Retirement System now owns 13,081 shares of the company’s stock valued at $713,000 after buying an additional 256 shares in the last quarter. Avory & Company LLC acquired a new position in shares of Xometry in the third quarter worth about $223,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Xometry by 246.4% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 132,038 shares of the company’s stock worth $7,192,000 after acquiring an additional 93,917 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its stake in shares of Xometry by 3.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 12,210 shares of the company’s stock valued at $665,000 after purchasing an additional 418 shares in the last quarter. 97.31% of the stock is currently owned by institutional investors and hedge funds.

About Xometry

Xometry, Inc operates an online marketplace that enables buyers to source custom-manufactured parts and assemblies in the United States and internationally. It provides computer numerical control manufacturing, sheet metal forming, and sheet cutting; 3D printing, including fused deposition modeling, direct metal laser sintering, PolyJet, stereolithography, selective laser sintering, binder jetting, carbon digital light synthesis, multi jet fusion, and lubricant sublayer photo-curing; and die casting, stamping, injection molding, urethane casting, tube cutting, and tube bending, as well as finishing services, rapid prototyping, and high-volume production services.