Xometry (NASDAQ:XMTR) Earns Buy Rating from Analysts at Rosenblatt Securities

Analysts at Rosenblatt Securities started coverage on shares of Xometry (NASDAQ:XMTR) in a report issued on Thursday. The firm set a “buy” rating and a $110.00 price target on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 30.04% from the stock’s current price.

XMTR has been the topic of several other reports. Cantor Fitzgerald upped their target price on Xometry from $85.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. The Goldman Sachs Group boosted their price target on shares of Xometry from $78.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada upped their price objective on shares of Xometry from $85.00 to $100.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. UBS Group lifted their target price on shares of Xometry from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Finally, Citigroup boosted their target price on shares of Xometry from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Seven 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $102.78.

Xometry Stock Performance

Shares of Xometry stock opened at $84.59 on Thursday. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of -140.98 and a beta of 1.29. Xometry has a twelve month low of $35.86 and a twelve month high of $106.08. The company’s fifty day moving average is $91.63 and its 200 day moving average is $70.01. The company has a quick ratio of 3.20, a current ratio of 3.21 and a debt-to-equity ratio of 0.41.

Xometry (NASDAQ:XMTR) last announced its earnings results on Tuesday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $229.28 million for the quarter, compared to the consensus estimate of $215.22 million. During the same period in the previous year, the business earned $0.09 EPS. The business’s quarterly revenue was up 41.1% compared to the same quarter last year. Sell-side analysts forecast that Xometry will post -0.02 EPS for the current year.

Insider Buying and Selling

In other Xometry news, Director Fabio Rosati sold 1,900 shares of Xometry stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $89.72, for a total transaction of $170,468.00. Following the completion of the transaction, the director owned 91,667 shares in the company, valued at approximately $8,224,363.24. The trade was a 2.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Miln sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $87.92, for a total value of $131,880.00. Following the sale, the chief financial officer directly owned 177,631 shares of the company’s stock, valued at $15,617,317.52. This represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,553 shares of company stock worth $2,737,968 over the last 90 days. 9.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Xometry

A number of hedge funds have recently bought and sold shares of XMTR. Kemnay Advisory Services Inc. purchased a new stake in shares of Xometry in the fourth quarter valued at about $28,000. Quantbot Technologies LP purchased a new position in Xometry during the third quarter worth about $30,000. Leonteq Securities AG purchased a new position in Xometry during the fourth quarter worth about $59,000. Comerica Bank increased its stake in Xometry by 17.9% in the 3rd quarter. Comerica Bank now owns 1,140 shares of the company’s stock valued at $62,000 after buying an additional 173 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Xometry by 74.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,636 shares of the company’s stock valued at $67,000 after buying an additional 697 shares during the last quarter. 97.31% of the stock is owned by hedge funds and other institutional investors.

About Xometry

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.