Xometry (NASDAQ:XMTR) Coverage Initiated by Analysts at BNP Paribas Exane

Equities research analysts at BNP Paribas Exane began coverage on shares of Xometry (NASDAQ:XMTR) in a research report issued on Friday, Briefing.com reports. The brokerage set an “outperform” rating and a $120.00 price target on the stock. BNP Paribas Exane’s target price would indicate a potential upside of 25.97% from the company’s current price.

A number of other analysts have also issued reports on XMTR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xometry in a research report on Wednesday, August 26th. Cantor Fitzgerald raised their price objective on Xometry from $85.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada lifted their price objective on Xometry from $85.00 to $100.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. initiated coverage on Xometry in a research report on Monday, August 24th. They issued an “overweight” rating and a $120.00 target price on the stock. Finally, The Goldman Sachs Group increased their target price on Xometry from $78.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $109.50.

Xometry Stock Up 2.3%

Shares of NASDAQ:XMTR opened at $95.26 on Friday. The company has a current ratio of 3.21, a quick ratio of 3.20 and a debt-to-equity ratio of 0.41. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of -158.76 and a beta of 1.32. The stock’s 50-day moving average price is $90.79 and its two-hundred day moving average price is $74.86. Xometry has a 12-month low of $35.86 and a 12-month high of $106.08.

Xometry (NASDAQ:XMTR) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $229.28 million during the quarter, compared to the consensus estimate of $215.22 million. Xometry had a negative return on equity of 2.88% and a negative net margin of 3.82%.The business’s revenue for the quarter was up 41.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS. On average, research analysts forecast that Xometry will post -0.01 EPS for the current year.

Insider Transactions at Xometry

In other news, CEO Sanjeev Sahni sold 1,500 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $85.23, for a total transaction of $127,845.00. Following the transaction, the chief executive officer directly owned 180,903 shares of the company’s stock, valued at approximately $15,418,362.69. This trade represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Emily Rollins sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $84.31, for a total transaction of $421,550.00. Following the sale, the director owned 15,136 shares in the company, valued at $1,276,116.16. This trade represents a 24.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 57,053 shares of company stock worth $5,244,213 over the last quarter. Insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Xometry during the 2nd quarter worth about $36,000. Leonteq Securities AG bought a new stake in shares of Xometry in the 4th quarter valued at approximately $59,000. CoreCap Advisors LLC acquired a new position in Xometry in the second quarter worth approximately $97,000. Nykredit A S acquired a new position in Xometry in the second quarter worth approximately $103,000. Finally, PNC Financial Services Group Inc. raised its position in Xometry by 74.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,636 shares of the company’s stock valued at $67,000 after acquiring an additional 697 shares in the last quarter. Institutional investors and hedge funds own 97.31% of the company’s stock.

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.