Xometry (NASDAQ:XMTR) Receives “Market Outperform” Rating from Citizens Jmp

Citizens Jmp restated their market outperform rating on shares of Xometry (NASDAQ:XMTR) in a report published on Monday,Benzinga reports. They currently have a $120.00 price target on the stock.

XMTR has been the subject of several other reports. Citigroup reaffirmed a “market outperform” rating on shares of Xometry in a research report on Monday. Royal Bank Of Canada raised their target price on Xometry from $85.00 to $100.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. Rosenblatt Securities assumed coverage on Xometry in a research note on Thursday, August 20th. They set a “buy” rating and a $110.00 target price for the company. The Goldman Sachs Group boosted their target price on Xometry from $78.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Xometry in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Xometry presently has an average rating of “Moderate Buy” and a consensus price target of $111.50.

Xometry Trading Up 2.4%

Shares of NASDAQ:XMTR opened at $99.53 on Monday. Xometry has a 52 week low of $35.86 and a 52 week high of $106.08. The company’s 50 day moving average is $90.86 and its two-hundred day moving average is $75.66. The company has a market cap of $5.16 billion, a PE ratio of -165.88 and a beta of 1.32. The company has a current ratio of 3.21, a quick ratio of 3.20 and a debt-to-equity ratio of 0.41.

Xometry (NASDAQ:XMTR) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $229.28 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $0.09 EPS. Equities analysts predict that Xometry will post -0.01 earnings per share for the current fiscal 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 stock was sold at an average price of $96.77, for a total transaction of $483,850.00. Following the sale, the chief technology officer owned 135,777 shares in the company, valued at approximately $13,139,140.29. The trade was a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Randolph Altschuler sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $90.82, for a total value of $908,200.00. Following the completion of the sale, the director directly owned 551,270 shares of the company’s stock, valued at $50,066,341.40. The trade was a 1.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 57,053 shares of company stock valued at $5,244,213. Corporate insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Xometry

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

About Xometry

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.