Analysts Set Xometry, Inc. (NASDAQ:XMTR) Target Price at $62.00
by Sarita Garza · The Markets DailyShares of Xometry, Inc. (NASDAQ:XMTR – Get Free Report) have received a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $62.00.
Several brokerages have issued reports on XMTR. Citigroup cut their price objective on shares of Xometry from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Xometry in a report on Wednesday, January 21st. William Blair reaffirmed an “outperform” rating on shares of Xometry in a report on Tuesday, February 24th. Zacks Research raised shares of Xometry from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Finally, Royal Bank Of Canada lowered their target price on shares of Xometry from $64.00 to $55.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 25th.
Get Our Latest Stock Analysis on XMTR
Insider Activity at Xometry
In other news, insider Subir Dutt sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $70.00, for a total transaction of $175,000.00. Following the transaction, the insider directly owned 64,919 shares of the company’s stock, valued at approximately $4,544,330. This trade represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Randolph Altschuler sold 31,928 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $43.44, for a total transaction of $1,386,952.32. Following the transaction, the chief executive officer directly owned 372,377 shares in the company, valued at $16,176,056.88. This represents a 7.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 68,090 shares of company stock valued at $3,032,592. 9.66% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in shares of Xometry by 26.5% during the fourth quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock worth $46,000 after purchasing an additional 162 shares during the period. Comerica Bank increased its stake in Xometry by 17.9% in the third quarter. Comerica Bank now owns 1,140 shares of the company’s stock valued at $62,000 after acquiring an additional 173 shares during the last quarter. M&T Bank Corp raised its position in Xometry by 2.1% during the fourth quarter. M&T Bank Corp now owns 8,590 shares of the company’s stock valued at $510,000 after purchasing an additional 180 shares in the last quarter. Arizona State Retirement System raised its position in Xometry by 2.0% during the third quarter. Arizona State Retirement System now owns 13,081 shares of the company’s stock valued at $713,000 after purchasing an additional 256 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in Xometry by 9.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,270 shares of the company’s stock valued at $194,000 after purchasing an additional 290 shares in the last quarter. 97.31% of the stock is owned by institutional investors.
Xometry Stock Performance
Shares of XMTR stock opened at $40.41 on Friday. The firm has a 50 day moving average price of $47.31 and a two-hundred day moving average price of $54.28. The company has a quick ratio of 3.72, a current ratio of 3.76 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $2.09 billion, a PE ratio of -33.12 and a beta of 0.88. Xometry has a 12-month low of $19.95 and a 12-month high of $73.87.
Xometry (NASDAQ:XMTR – Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. The firm had revenue of $192.40 million during the quarter, compared to the consensus estimate of $183.37 million. Xometry had a negative net margin of 8.99% and a negative return on equity of 5.49%. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period last year, the business posted $0.06 earnings per share. As a group, analysts predict that Xometry will post -0.66 earnings per share for the current year.
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.