Xometry (NASDAQ:XMTR) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Key Points

• Rosenblatt Securities raised Xometry’s price target from $110 to $120 and maintained a “buy” rating, implying 20.57% upside from the prior close.
• Xometry reported quarterly revenue of $229.28 million, up 41.1% year over year, and EPS of $0.16, slightly beating analyst estimates.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus rating and an average price target of $112.50; however, insiders sold $5.24 million of stock during the last quarter.

Xometry (NASDAQ:XMTR - Get Free Report) had its price target increased by equities research analysts at Rosenblatt Securities from $110.00 to $120.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Rosenblatt Securities' price objective indicates a potential upside of 20.57% from the company's previous close.

XMTR has been the topic of several other reports. The Goldman Sachs Group lifted their target price 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. Royal Bank Of Canada increased their target price on shares of Xometry from $85.00 to $100.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 5th. Citigroup reissued a "market outperform" rating on shares of Xometry in a research note on Monday. Citizens Jmp restated a "market outperform" rating and set a $120.00 price target on shares of Xometry in a report on Monday. Finally, JPMorgan Chase & Co. started coverage on shares of Xometry in a research note on Monday, August 24th. They issued an "overweight" rating and a $120.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $112.50.

Xometry Stock Up 2.4%

XMTR stock opened at $99.53 on Tuesday. Xometry has a 12 month low of $35.86 and a 12 month high of $106.08. The firm has a market cap of $5.16 billion, a PE ratio of -165.88 and a beta of 1.32. The firm has a 50 day simple moving average of $90.86 and a 200 day simple moving average of $75.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.20.

Xometry (NASDAQ:XMTR - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate 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%.Xometry's revenue was up 41.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. Equities research analysts forecast that Xometry will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Xometry

In related news, CTO Vaidyanathan Raghavan sold 5,000 shares of the firm's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $96.77, for a total value of $483,850.00. Following the transaction, the chief technology officer directly owned 135,777 shares in the company, valued at approximately $13,139,140.29. This trade represents a 3.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Randolph Altschuler sold 10,000 shares of Xometry stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $90.82, for a total transaction of $908,200.00. Following the completion of the transaction, the director owned 551,270 shares in the company, valued at $50,066,341.40. This trade represents a 1.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 57,053 shares of company stock worth $5,244,213 in the last quarter. 9.10% of the stock is owned by corporate insiders.

Institutional Trading of Xometry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XMTR. Quantinno Capital Management LP raised 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 valued at $1,335,000 after purchasing an additional 28,890 shares during the last quarter. Sylebra Capital LLC grew its position in Xometry by 31.3% in the 1st 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 during the last quarter. Empowered Funds LLC bought a new position in shares of Xometry during the 1st quarter worth 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 worth $1,327,000 after purchasing an additional 14,031 shares during the period. Finally, Penn Capital Management Company LLC acquired a new position in shares of Xometry during the fourth quarter valued at about $1,899,000. 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.

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