Xometry (NASDAQ:XMTR) Stock Rating Reaffirmed as Market Outperform by Citizens Jmp

Xometry (NASDAQ:XMTR)‘s stock had its “market outperform” rating restated by research analysts at Citizens Jmp in a note issued to investors on Monday, September 21st, Benzinga reports. They currently have a $120.00 target price on the stock. Citizens Jmp’s price target would suggest a potential upside of 19.93% from the stock’s current price.

A number of other research firms have also recently weighed in on XMTR. UBS Group lifted their price target on Xometry from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Rosenblatt Securities initiated coverage on Xometry in a research note on Thursday, August 20th. They issued a “buy” rating and a $110.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on Xometry in a research note on Monday, August 24th. They issued an “overweight” rating and a $120.00 price objective on the stock. BNP Paribas Exane initiated coverage on Xometry in a research note on Friday, September 18th. They issued an “outperform” rating and a $120.00 price objective on the stock. Finally, Wedbush initiated coverage on Xometry in a research note on Thursday, July 16th. They issued an “outperform” rating and a $126.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.18.

Xometry Stock Performance

NASDAQ XMTR traded down $0.52 during trading hours on Monday, reaching $100.06. The company’s stock had a trading volume of 114,819 shares, compared to its average volume of 889,427. The business has a 50-day simple moving average of $91.21 and a 200 day simple moving average of $77.29. The stock has a market cap of $5.18 billion, a PE ratio of -166.75 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 has a 52 week low of $35.86 and a 52 week high of $107.93.

Xometry (NASDAQ:XMTR) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $229.28 million for 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 EPS. Equities research analysts predict that Xometry will post -0.01 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Emily Rollins sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $84.31, for a total transaction of $421,550.00. Following the transaction, the director directly owned 15,136 shares of the company’s stock, valued at approximately $1,276,116.16. The trade was a 24.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Randolph Altschuler sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $90.82, for a total value of $908,200.00. Following the transaction, the director directly owned 551,270 shares in the company, valued at $50,066,341.40. The trade was a 1.78% 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 valued at $5,244,213 in the last ninety days. Corporate insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Xometry

Several institutional investors and hedge funds have recently modified their holdings of XMTR. Quantinno Capital Management LP boosted its holdings in Xometry by 759.5% in the first quarter. Quantinno Capital Management LP now owns 32,694 shares of the company’s stock worth $1,335,000 after purchasing an additional 28,890 shares in the last quarter. Sylebra Capital LLC increased its holdings in shares of Xometry by 31.3% during the 1st quarter. Sylebra Capital LLC now owns 535,624 shares of the company’s stock valued at $21,875,000 after acquiring an additional 127,637 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Xometry during the 1st quarter valued at about $1,150,000. Polen Capital Management LLC increased its holdings in shares of Xometry by 169.3% during the 4th quarter. Polen Capital Management LLC now owns 22,321 shares of the company’s stock valued at $1,327,000 after acquiring an additional 14,031 shares during the last quarter. Finally, Penn Capital Management Company LLC acquired a new position in shares of Xometry during the 4th quarter valued at about $1,899,000. 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.