Xometry (NASDAQ:XMTR) Given New $132.00 Price Target at Citigroup

Key Points

• Citigroup raised its price target on Xometry to $132 from $110 and maintained a Buy rating, implying 16.28% upside from the previous close.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $122.45, with eight Buy, four Hold and one Sell rating.
• Xometry’s latest quarter beat estimates, with revenue of $252.44 million and EPS of $0.28; revenue increased 39.5% year over year.

Xometry (NASDAQ:XMTR - Get Free Report) had its price target boosted by stock analysts at Citigroup from $110.00 to $132.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price objective would suggest a potential upside of 16.28% from the company's previous close.

A number of other research firms have also issued reports on XMTR. UBS Group increased their price target on Xometry from $88.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Raymond James Financial set a $120.00 target price on shares of Xometry in a research note on Tuesday, September 22nd. Cantor Fitzgerald increased their target price on Xometry from $110.00 to $114.00 and gave the company an "overweight" rating in a report on Wednesday. BNP Paribas Exane started coverage on Xometry in a research note on Friday, September 18th. They issued an "outperform" rating and a $120.00 price target on the stock. Finally, The Goldman Sachs Group raised their price target on Xometry from $78.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $122.45.

Xometry Trading Up 2.0%

NASDAQ:XMTR traded up $2.23 on Wednesday, reaching $113.52. 973,318 shares of the company's stock were exchanged, compared to its average volume of 881,707. The company has a quick ratio of 3.20, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of -189.20 and a beta of 1.33. The business has a fifty day moving average of $96.90 and a 200-day moving average of $76.46. Xometry has a 52-week low of $35.86 and a 52-week high of $117.50.

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

Insider Activity at Xometry

In other news, Director Randolph Altschuler sold 5,721 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $103.32, for a total transaction of $591,093.72. Following the completion of the sale, the director owned 423,029 shares in the company, valued at approximately $43,707,356.28. The trade was a 1.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sanjeev Sahni sold 1,500 shares of the stock in a transaction on Monday, October 12th. The shares were sold at an average price of $108.80, for a total transaction of $163,200.00. Following the completion of the transaction, the chief executive officer directly owned 178,291 shares in the company, valued at $19,398,060.80. This trade represents a 0.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 64,699 shares of company stock worth $6,169,735 in the last ninety days. Company insiders own 9.10% of the company's stock.

Hedge Funds Weigh In On Xometry

Several hedge funds have recently made changes to their positions in XMTR. Wellington Management Group LLP increased its stake in Xometry by 26.9% in the second quarter. Wellington Management Group LLP now owns 1,322,581 shares of the company's stock valued at $127,656,000 after purchasing an additional 280,491 shares during the period. Zevenbergen Capital Investments LLC raised its holdings 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 buying an additional 159,227 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Xometry by 243.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 694,390 shares of the company's stock valued at $29,015,000 after buying an additional 492,285 shares during the last quarter. Sylebra Capital LLC boosted its stake 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 buying an additional 127,637 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Xometry by 45.6% during the first quarter. Sei Investments Co. now owns 274,641 shares of the company's stock worth $11,216,000 after buying an additional 85,989 shares during the period. Hedge funds and other institutional investors own 97.31% of the company's stock.

Key Xometry News

Here are the key news stories impacting Xometry this week:

• Positive Sentiment: Q3 results topped estimates: Revenue rose 40% year over year to a record $252 million, while earnings of $0.28 per share beat the $0.19 consensus. The company also reported 43% growth in marketplace revenue and, according to the earnings-call summary, its first GAAP profit. Read More. Read More.
• Positive Sentiment: Marketplace growth showed expanding demand: Marketplace revenue reached $238 million, up 43% year over year, and active buyers increased 20% to 93,812—indicators of broader platform usage. Read More.
• Positive Sentiment: Several analysts raised targets: JPMorgan lifted its target to $140 and kept an overweight rating; Citizens JMP raised its target to $135 with a market-outperform rating; Rosenblatt raised its target to $130 and maintained buy; and Cantor Fitzgerald raised its target to $114 with an overweight rating. Read More.
• Neutral Sentiment: RBC raised its target to $117 from $100 but kept a sector-perform rating, signaling a more measured view than the other recent analyst updates. Read More.

About Xometry

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.