JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Xometry (NASDAQ:XMTR) Stock

Key Points

• JPMorgan raised its Xometry price target from $120 to $140 and maintained an “overweight” rating, implying about 22% upside from the prior close.
• Xometry reported quarterly EPS of $0.28, beating the $0.19 consensus, while revenue of $252.44 million exceeded expectations and rose 39.5% year over year.
• Analyst views are broadly positive but not unanimous: MarketBeat reports a “Moderate Buy” consensus and an average price target of $120.45, alongside eight Buy, four Hold, and one Sell rating.

Xometry (NASDAQ:XMTR - Get Free Report) had its price target boosted by research analysts at JPMorgan Chase & Co. from $120.00 to $140.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 22.02% from the company's previous close.

Several other research firms have also recently issued reports on XMTR. UBS Group boosted their target price on Xometry from $88.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Xometry in a report on Wednesday, August 26th. BNP Paribas Exane initiated coverage on Xometry in a research report on Friday, September 18th. They issued an "outperform" rating and a $120.00 target price for the company. Citigroup restated a "market outperform" rating on shares of Xometry in a research note on Monday, September 21st. Finally, The Goldman Sachs Group increased their price target on shares of Xometry from $78.00 to $104.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Xometry currently has an average rating of "Moderate Buy" and an average target price of $120.45.

Xometry Stock Up 3.1%

Shares of NASDAQ XMTR traded up $3.44 during trading on Wednesday, hitting $114.73. 570,664 shares of the company traded hands, compared to its average volume of 880,803. The business's fifty day moving average is $96.90 and its 200 day moving average is $76.46. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of -191.40 and a beta of 1.33. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.20 and a current ratio of 3.21. Xometry has a fifty-two week low of $35.86 and a fifty-two week high of $117.50.

Xometry (NASDAQ:XMTR - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.09. Xometry had a negative return on equity of 2.88% and a negative net margin of 3.82%. The business had revenue of $252.44 million for the quarter, compared to analysts' expectations of $235.54 million. During the same period last year, the business earned $0.11 EPS. The business's revenue was up 39.5% on a year-over-year basis. Equities research analysts predict that Xometry will post -0.01 earnings per share for the current fiscal year.

Insider Activity at Xometry

In other Xometry news, Director Emily Rollins sold 5,000 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $84.31, for a total value 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. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Randolph Altschuler sold 10,000 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $90.82, for a total transaction of $908,200.00. Following the completion of the sale, the director directly owned 551,270 shares of the company's stock, valued at approximately $50,066,341.40. This trade represents a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 64,699 shares of company stock worth $6,169,735 in the last three months. 9.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Odyssean LLC purchased a new stake in Xometry in the second quarter valued at approximately $1,464,000. Zevenbergen Capital Investments LLC grew its position in shares of Xometry by 115.1% in the third quarter. Zevenbergen Capital Investments LLC now owns 297,552 shares of the company's stock valued at $30,603,000 after purchasing an additional 159,227 shares during the period. Quantinno Capital Management LP increased its stake in Xometry by 759.5% during the 1st quarter. Quantinno Capital Management LP now owns 32,694 shares of the company's stock worth $1,335,000 after buying an additional 28,890 shares in the last quarter. Sylebra Capital LLC increased its position in shares of Xometry by 31.3% during the first quarter. Sylebra Capital LLC now owns 535,624 shares of the company's stock worth $21,875,000 after purchasing an additional 127,637 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of Xometry in the first quarter valued at about $1,150,000. 97.31% of the stock is owned by institutional investors and hedge funds.

Xometry News Roundup

Here are the key news stories impacting Xometry this week:

• Positive Sentiment: Xometry reported record Q3 revenue of about $252 million, up 40% year over year, and earnings of $0.28 per share versus the $0.19 consensus. Marketplace revenue rose 43%; active buyers increased 20% to 93,812. The earnings-call coverage also highlighted the company’s first GAAP profit. Xometry Q3 results Q3 investor takeaways
• Positive Sentiment: Citizens JMP raised its target to $135 and maintained a market-outperform rating; Rosenblatt lifted its target to $130 and kept a buy rating, reinforcing optimism after the earnings beat. Citizens JMP target increase
• Neutral Sentiment: Other target revisions were more cautious: RBC raised its target to $117 with a sector-perform rating, while Cantor Fitzgerald’s new $114 target is below the cited share price despite its overweight rating. These estimates suggest analysts differ on valuation and near-term upside.

Xometry Company Profile

Xometry, Inc NASDAQ: XMTR operates a technology-driven marketplace that connects businesses seeking custom parts with a network of manufacturing suppliers. Its platform uses automated pricing, manufacturability analysis and digital workflows to help customers source parts and manage production more efficiently.

The company supports a range of manufacturing processes, including CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other specialized production services.

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