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

Xometry (NASDAQ:XMTR) had its price objective lifted by Rosenblatt Securities from $130.00 to $140.00 in a report published on Friday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. Zacks Research upgraded shares of Xometry from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xometry in a research report on Wednesday, August 26th. Cantor Fitzgerald increased their price target on shares of Xometry from $110.00 to $114.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 4th. Citizens Jmp boosted their price objective on shares of Xometry from $120.00 to $135.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 4th. Finally, Raymond James Financial set a $120.00 price objective on Xometry in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Xometry currently has an average rating of “Moderate Buy” and a consensus price target of $124.55.

Xometry Price Performance

Shares of Xometry stock opened at $119.61 on Friday. The business has a 50 day moving average of $101.00 and a 200 day moving average of $78.66. Xometry has a 52 week low of $35.86 and a 52 week high of $127.49. The company has a quick ratio of 3.13, a current ratio of 3.15 and a debt-to-equity ratio of 0.40. The company has a market cap of $6.20 billion, a PE ratio of -351.78 and a beta of 1.33.

Xometry (NASDAQ:XMTR) last announced its earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.09. Xometry had a negative net margin of 1.97% and a positive return on equity of 0.18%. The business had revenue of $252.44 million during the quarter, compared to the consensus estimate of $235.54 million. During the same quarter last year, the firm earned $0.11 earnings per share. The business’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, equities research analysts forecast that Xometry will post 0.13 earnings per share for the current year.

Insider Transactions at Xometry

In other Xometry news, CTO Vaidyanathan Raghavan sold 5,000 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $96.77, for a total value of $483,850.00. Following the completion of the sale, the chief technology officer directly owned 135,777 shares in the company, valued at approximately $13,139,140.29. This trade represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Katharine Weymouth sold 5,000 shares of Xometry stock in a transaction on Friday, August 28th. The stock was sold at an average price of $94.30, for a total transaction of $471,500.00. Following the sale, the director owned 35,345 shares of the company’s stock, valued at $3,333,033.50. The trade was a 12.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 77,999 shares of company stock worth $7,981,293. 9.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xometry

Hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new stake in Xometry during the 2nd quarter worth approximately $36,000. IFP Advisors Inc grew its position in Xometry by 687.5% during the third quarter. IFP Advisors Inc now owns 441 shares of the company’s stock worth $45,000 after buying an additional 385 shares during the period. Advisors Asset Management Inc. purchased a new stake in shares of Xometry in the 3rd quarter worth about $59,000. GAMMA Investing LLC raised its holdings in shares of Xometry by 36.5% in the third quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock worth $99,000 after acquiring an additional 256 shares during the last quarter. Finally, CoreCap Advisors LLC acquired a new position in shares of Xometry in the second quarter valued at approximately $97,000. Hedge funds and other institutional investors own 97.31% of the company’s stock.

About Xometry

Xometry, Inc. operates a digital marketplace that connects businesses needing custom-manufactured parts with a network of manufacturing suppliers. Its platform uses automated quoting and matching tools to help customers source parts and production services. Services available through the marketplace include CNC machining, 3D printing, sheet metal fabrication, injection molding, and other manufacturing processes. Xometry also offers related services such as product sourcing and procurement tools, and operates Thomasnet, an online platform for discovering and evaluating industrial suppliers.