Brokerages Set Xometry, Inc. (NASDAQ:XMTR) Target Price at $62.00

Xometry, Inc. (NASDAQ:XMTR) has earned a consensus rating of “Hold” from the eleven research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $62.00.

XMTR has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Xometry in a research note on Wednesday, January 21st. Citigroup reduced their price objective on Xometry from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Wedbush decreased their target price on Xometry from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Royal Bank Of Canada dropped their target price on Xometry from $64.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 25th. Finally, UBS Group increased their price target on shares of Xometry from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th.

Xometry Trading Down 1.9%

NASDAQ:XMTR opened at $39.20 on Monday. Xometry has a 12 month low of $18.59 and a 12 month high of $73.87. The firm has a fifty day simple moving average of $53.70 and a 200-day simple moving average of $55.30. The company has a current ratio of 3.76, a quick ratio of 3.72 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $2.03 billion, a P/E ratio of -32.13 and a beta of 0.90.

Xometry (NASDAQ:XMTR) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Xometry had a negative net margin of 8.99% and a negative return on equity of 5.49%. The firm had revenue of $192.40 million for the quarter, compared to analyst estimates of $183.37 million. During the same period in the previous year, the company earned $0.06 earnings per share. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. On average, equities research analysts anticipate that Xometry will post -0.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO James Miln sold 15,103 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $43.46, for a total value of $656,376.38. Following the sale, the chief financial officer owned 173,123 shares in the company, valued at $7,523,925.58. This represents a 8.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Sanjeev Singh Sahni sold 9,978 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $43.45, for a total transaction of $433,544.10. Following the completion of the sale, the president owned 113,022 shares in the company, valued at $4,910,805.90. The trade was a 8.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 127,852 shares of company stock worth $6,993,940. Company insiders own 9.66% of the company’s stock.

Hedge Funds Weigh In On Xometry

A number of institutional investors have recently modified their holdings of XMTR. Rockefeller Capital Management L.P. boosted its stake in shares of Xometry by 9.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,270 shares of the company’s stock worth $194,000 after buying an additional 290 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in Xometry during the fourth quarter worth about $15,938,000. Fuller & Thaler Asset Management Inc. purchased a new position in Xometry during the fourth quarter valued at approximately $76,393,000. XTX Topco Ltd acquired a new position in Xometry in the fourth quarter valued at approximately $1,440,000. Finally, Numerai GP LLC lifted its holdings in Xometry by 24.7% in the fourth quarter. Numerai GP LLC now owns 7,510 shares of the company’s stock valued at $447,000 after acquiring an additional 1,487 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.