Xometry (NASDAQ:XMTR) Price Target Raised to $38.00

Xometry (NASDAQ:XMTR - Free Report) had its price target raised by JPMorgan Chase & Co. from $36.00 to $38.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also commented on XMTR. Citigroup lowered their target price on Xometry from $46.00 to $39.00 and set a "buy" rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group increased their target price on Xometry from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. JMP Securities reissued a "market outperform" rating and set a $42.00 price target on shares of Xometry in a report on Monday, February 10th. Royal Bank of Canada upped their price target on shares of Xometry from $32.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. Finally, Cantor Fitzgerald lifted their price objective on shares of Xometry from $20.00 to $21.00 and gave the company an "underweight" rating in a research report on Wednesday, May 7th. 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $35.78.

Xometry Stock Performance

Shares of NASDAQ XMTR traded down $0.41 during midday trading on Tuesday, hitting $33.92. The company's stock had a trading volume of 524,376 shares, compared to its average volume of 601,922. The firm has a market cap of $1.72 billion, a P/E ratio of -32.30 and a beta of 0.71. Xometry has a 1-year low of $11.08 and a 1-year high of $45.33. The firm's fifty day moving average price is $27.33 and its 200-day moving average price is $31.13. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.55 and a current ratio of 4.59.

Insider Activity at Xometry

In other news, CFO James Miln sold 1,346 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $25.13, for a total transaction of $33,824.98. Following the sale, the chief financial officer now owns 144,713 shares in the company, valued at $3,636,637.69. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Emily Rollins sold 10,041 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $30.70, for a total transaction of $308,258.70. Following the completion of the sale, the director now owns 11,105 shares of the company's stock, valued at approximately $340,923.50. This trade represents a 47.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,644 shares of company stock valued at $666,660 over the last ninety days. Insiders own 9.66% of the company's stock.

Institutional Trading of Xometry

Several hedge funds and other institutional investors have recently modified their holdings of XMTR. Vanguard Group Inc. raised its position in Xometry by 2.8% during the first quarter. Vanguard Group Inc. now owns 4,413,337 shares of the company's stock valued at $109,980,000 after buying an additional 120,065 shares during the period. Sylebra Capital LLC increased its holdings in shares of Xometry by 2.6% in the 1st quarter. Sylebra Capital LLC now owns 1,881,624 shares of the company's stock valued at $46,890,000 after purchasing an additional 46,874 shares during the period. Geode Capital Management LLC lifted its position in shares of Xometry by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,004,452 shares of the company's stock worth $42,861,000 after purchasing an additional 8,974 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Xometry by 4.4% during the first quarter. New York State Common Retirement Fund now owns 942,088 shares of the company's stock worth $23,477,000 after purchasing an additional 39,480 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Xometry by 225.7% during the fourth quarter. Ameriprise Financial Inc. now owns 852,813 shares of the company's stock valued at $36,381,000 after purchasing an additional 590,974 shares in the last quarter. Institutional investors and hedge funds own 97.31% of the company's stock.

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.