Wedbush Issues Positive Forecast for Xometry (NASDAQ:XMTR) Stock Price

Xometry (NASDAQ:XMTR) had its price objective upped by equities research analysts at Wedbush from $48.00 to $70.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective would suggest a potential upside of 11.79% from the stock’s previous close.

Several other research firms also recently weighed in on XMTR. Cantor Fitzgerald upgraded Xometry from an “underweight” rating to a “neutral” rating and set a $41.00 target price for the company in a research report on Tuesday, August 5th. Citigroup reaffirmed an “outperform” rating on shares of Xometry in a research note on Wednesday. The Goldman Sachs Group reiterated a “neutral” rating and set a $49.00 price objective (up previously from $42.00) on shares of Xometry in a report on Thursday, October 16th. JMP Securities set a $75.00 target price on shares of Xometry in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Xometry in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $49.30.

Xometry Stock Down 0.0%

Shares of NASDAQ:XMTR opened at $62.62 on Wednesday. The firm has a market capitalization of $3.18 billion, a PE ratio of -50.37 and a beta of 0.87. The business has a 50 day simple moving average of $50.96 and a two-hundred day simple moving average of $40.26. Xometry has a 1 year low of $18.59 and a 1 year high of $62.72. 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 (NASDAQ:XMTR) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. The firm had revenue of $162.55 million during the quarter, compared to analyst estimates of $156.53 million. Xometry had a negative return on equity of 6.79% and a negative net margin of 10.20%.Xometry’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period last year, the company earned ($0.01) EPS. On average, equities analysts predict that Xometry will post -0.66 EPS for the current year.

Insider Activity

In other news, CEO Randolph Altschuler sold 9,331 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $50.31, for a total value of $469,442.61. Following the completion of the sale, the chief executive officer owned 310,271 shares of the company’s stock, valued at approximately $15,609,734.01. This represents a 2.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Miln sold 598 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $50.25, for a total transaction of $30,049.50. Following the transaction, the chief financial officer owned 144,115 shares in the company, valued at approximately $7,241,778.75. This represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 9.66% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in XMTR. GAMMA Investing LLC lifted its stake in shares of Xometry by 160.1% during the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the company’s stock worth $25,000 after purchasing an additional 618 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Xometry by 68.3% in the second quarter. Advisors Asset Management Inc. now owns 1,015 shares of the company’s stock worth $34,000 after purchasing an additional 412 shares in the last quarter. CWM LLC lifted its position in shares of Xometry by 825.6% during the first quarter. CWM LLC now owns 1,555 shares of the company’s stock valued at $39,000 after buying an additional 1,387 shares during the last quarter. Westend Capital Management LLC bought a new stake in shares of Xometry in the 3rd quarter valued at about $41,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Xometry in the 3rd quarter worth approximately $47,000. 97.31% of the stock is owned by institutional investors.

Xometry Company Profile

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.