Xometry (NASDAQ:XMTR) Price Target Raised to $120.00

Xometry (NASDAQ:XMTR) had its price objective boosted by Rosenblatt Securities from $110.00 to $120.00 in a research report report published on Tuesday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on XMTR. Weiss Ratings restated a “sell (d-)” rating on shares of Xometry in a research note on Wednesday, August 26th. Citizens Jmp reissued a “market outperform” rating and issued a $120.00 target price on shares of Xometry in a research report on Monday. Royal Bank Of Canada lifted their price target on Xometry from $85.00 to $100.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. UBS Group increased their price objective on Xometry from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, BNP Paribas Exane assumed coverage on Xometry in a report on Friday, September 18th. They set an “outperform” rating and a $120.00 target price for the company. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Xometry presently has a consensus rating of “Moderate Buy” and an average price target of $113.18.

Xometry Stock Down 7.3%

Shares of NASDAQ XMTR opened at $97.38 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.20 and a current ratio of 3.21. The stock has a 50 day moving average price of $91.17 and a 200 day moving average price of $76.90. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of -162.30 and a beta of 1.32. Xometry has a 52-week low of $35.86 and a 52-week high of $107.93.

Xometry (NASDAQ:XMTR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Xometry had a negative return on equity of 2.88% and a negative net margin of 3.82%.The business had revenue of $229.28 million for the quarter, compared to the consensus estimate of $215.22 million. During the same quarter in the prior year, the company earned $0.09 EPS. The business’s revenue was up 41.1% compared to the same quarter last year. Sell-side analysts expect that Xometry will post -0.01 earnings per share for the current year.

Insider Activity at Xometry

In other news, CTO Vaidyanathan Raghavan sold 5,000 shares of Xometry stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $96.77, for a total value of $483,850.00. Following the sale, the chief technology officer owned 135,777 shares in the company, valued at $13,139,140.29. This trade represents a 3.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Emily Rollins sold 5,000 shares of Xometry stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $84.31, for a total value of $421,550.00. Following the completion of the sale, the director owned 15,136 shares in the company, valued at approximately $1,276,116.16. The trade was a 24.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 57,053 shares of company stock valued at $5,244,213 in the last ninety days. 9.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Xometry

Large investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC acquired a new stake in Xometry in the 2nd quarter valued at about $36,000. Leonteq Securities AG acquired a new position in shares of Xometry in the 4th quarter valued at $59,000. PNC Financial Services Group Inc. boosted its stake in Xometry by 74.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,636 shares of the company’s stock worth $67,000 after buying an additional 697 shares during the period. CoreCap Advisors LLC acquired a new position in shares of Xometry in the 2nd quarter worth approximately $97,000. Finally, Nykredit A S purchased a new position in shares of Xometry during the 2nd quarter worth approximately $103,000. Hedge funds and other institutional investors own 97.31% of the company’s stock.

Xometry Company Profile

Xometry, Inc operates a digital marketplace that connects businesses with manufacturing suppliers. Its platform uses software and data-driven tools to help customers obtain quotes, place orders and manage production for custom parts and products.

The company supports a range of manufacturing processes, including CNC machining, 3D printing, sheet-metal fabrication, injection molding and urethane casting. Its services are used for prototyping and production across industries such as aerospace, automotive, industrial equipment, consumer products and healthcare.

Founded in 2013, Xometry has expanded its marketplace and related technology offerings through organic development and acquisitions, including the 2021 acquisition of Thomas, a digital industrial sourcing and marketing business.