Xometry (NASDAQ:XMTR) Price Target Raised to $40.00

Xometry (NASDAQ:XMTR) had its target price lifted by analysts at Royal Bank of Canada from $27.00 to $40.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential downside of 5.77% from the stock’s current price.

Several other brokerages also recently commented on XMTR. Cantor Fitzgerald restated an “underweight” rating and set a $12.00 price objective on shares of Xometry in a research report on Wednesday, November 6th. UBS Group lifted their target price on Xometry from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. JMP Securities reaffirmed a “market outperform” rating and set a $42.00 price objective on shares of Xometry in a report on Monday, December 16th. Citigroup raised their target price on shares of Xometry from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised shares of Xometry from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $25.00 to $45.00 in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.33.

Xometry Stock Up 2.0 %

Shares of NASDAQ XMTR traded up $0.82 during midday trading on Friday, hitting $42.45. The stock had a trading volume of 167,310 shares, compared to its average volume of 407,071. The business’s 50 day moving average is $32.61 and its 200-day moving average is $22.04. The company has a quick ratio of 4.55, a current ratio of 4.59 and a debt-to-equity ratio of 0.90. Xometry has a 52 week low of $11.08 and a 52 week high of $45.33. The company has a market cap of $2.10 billion, a P/E ratio of -40.43 and a beta of 0.83.

Insider Buying and Selling

In other Xometry news, COO Peter Goguen sold 12,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $29.55, for a total value of $354,600.00. Following the completion of the sale, the chief operating officer now directly owns 180,419 shares in the company, valued at $5,331,381.45. This represents a 6.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Emily Rollins sold 3,729 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $29.49, for a total transaction of $109,968.21. Following the transaction, the director now directly owns 12,457 shares in the company, valued at approximately $367,356.93. The trade was a 23.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,279 shares of company stock valued at $1,162,332. 16.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xometry

A number of institutional investors have recently made changes to their positions in XMTR. nVerses Capital LLC purchased a new position in Xometry in the second quarter valued at $38,000. ProShare Advisors LLC acquired a new position in shares of Xometry during the 2nd quarter worth about $53,000. Point72 Asset Management L.P. acquired a new position in shares of Xometry during the 2nd quarter worth about $55,000. US Bancorp DE increased its holdings in shares of Xometry by 57.7% in the 3rd quarter. US Bancorp DE now owns 5,570 shares of the company’s stock valued at $102,000 after acquiring an additional 2,037 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Xometry in the third quarter valued at approximately $153,000. 97.31% of the stock is currently owned by institutional investors and hedge funds.

Xometry Company Profile

Xometry, Inc operates an online marketplace that enables buyers to source custom-manufactured parts and assemblies in the United States and internationally. It provides computer numerical control manufacturing, sheet metal forming, and sheet cutting; 3D printing, including fused deposition modeling, direct metal laser sintering, PolyJet, stereolithography, selective laser sintering, binder jetting, carbon digital light synthesis, multi jet fusion, and lubricant sublayer photo-curing; and die casting, stamping, injection molding, urethane casting, tube cutting, and tube bending, as well as finishing services, rapid prototyping, and high-volume production services.