Xometry (NASDAQ:XMTR) Price Target Raised to $95.00

Xometry (NASDAQ:XMTR) had its target price hoisted by UBS Group from $88.00 to $95.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts have also weighed in on XMTR. Weiss Ratings restated a “sell (d-)” rating on shares of Xometry in a report on Friday, May 29th. Wedbush started coverage on Xometry in a research note on Thursday, July 16th. They issued an “outperform” rating and a $126.00 target price on the stock. Citigroup increased their price objective on Xometry from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday. The Goldman Sachs Group lifted their price objective on shares of Xometry from $78.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Cantor Fitzgerald raised their target price on shares of Xometry from $85.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Xometry presently has an average rating of “Hold” and a consensus target price of $101.88.

Xometry Trading Up 6.9%

NASDAQ:XMTR opened at $93.14 on Wednesday. Xometry has a one year low of $35.86 and a one year high of $106.08. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of -155.23 and a beta of 1.29. The business has a fifty day moving average price of $90.54 and a 200-day moving average price of $68.38. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 1.76.

Xometry (NASDAQ:XMTR) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $229.28 million for the quarter, compared to the consensus estimate of $215.22 million. Xometry had a negative net margin of 3.82% and a negative return on equity of 2.88%. The company’s revenue for the quarter was up 41.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Sell-side analysts forecast that Xometry will post -0.13 EPS for the current year.

Insider Activity

In other Xometry news, Director Lukas Alexander Biewald acquired 47,058 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average cost of $85.00 per share, for a total transaction of $3,999,930.00. Following the completion of the acquisition, the director owned 55,134 shares of the company’s stock, valued at approximately $4,686,390. The trade was a 582.69% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Subir Dutt sold 1,073 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $93.39, for a total value of $100,207.47. Following the sale, the insider directly owned 93,716 shares of the company’s stock, valued at $8,752,137.24. The trade was a 1.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 81,996 shares of company stock worth $7,256,220. 9.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. grew its stake in Xometry by 54.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,964,909 shares of the company’s stock worth $107,029,000 after purchasing an additional 690,558 shares in the last quarter. First Trust Advisors LP grew its stake in Xometry by 9.2% during the 4th quarter. First Trust Advisors LP now owns 1,576,075 shares of the company’s stock worth $93,729,000 after buying an additional 132,792 shares during the last quarter. Baillie Gifford & Co. raised its position in Xometry by 1.6% in the 4th quarter. Baillie Gifford & Co. now owns 1,306,151 shares of the company’s stock valued at $77,677,000 after purchasing an additional 20,901 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Xometry during the 4th quarter worth $76,393,000. Finally, State Street Corp boosted its stake in shares of Xometry by 1.2% during the fourth quarter. State Street Corp now owns 978,540 shares of the company’s stock worth $58,194,000 after buying an additional 11,272 shares during the period. Hedge funds and other institutional investors own 97.31% of the company’s stock.

Xometry Company Profile

Xometry, Inc (NASDAQ: XMTR) operates a technology-driven marketplace that connects businesses with on-demand manufacturing capacity across a wide array of processes. Through its proprietary Instant Quoting Engine and Xometry Platform, the company streamlines sourcing for CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other custom manufacturing services. By aggregating a network of thousands of vetted suppliers, Xometry offers rapid lead times, transparent pricing and real-time order tracking to customers in sectors ranging from automotive and aerospace to medical devices and industrial equipment.

Since its founding in 2013 and headquarters in Rockville, Maryland, Xometry has expanded its geographic reach to serve customers in North America, Europe and beyond.