Xometry (NASDAQ:XMTR) Reaches New 1-Year High - What's Next?

Key Points

• Xometry hit a new 52-week high, trading as high as $117.57 after a previous close of $109.01.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $123.64; Citigroup raised its target to $132.
• Quarterly results beat expectations: adjusted earnings were $0.28 per share versus $0.19 expected, while revenue of $252.44 million grew 39.5% year over year.

Xometry, Inc. (NASDAQ:XMTR - Get Free Report) hit a new 52-week high on Friday. The stock traded as high as $117.57 and last traded at $115.3350, with a volume of 295,904 shares. The stock had previously closed at $109.01.

Analysts Set New Price Targets

A number of research analysts have issued reports on XMTR shares. BNP Paribas Exane initiated coverage on shares of Xometry in a research note on Friday, September 18th. They set an "outperform" rating and a $120.00 price target on the stock. Citigroup lifted their price objective on shares of Xometry from $110.00 to $132.00 and gave the stock a "buy" rating in a research note on Wednesday. Cantor Fitzgerald boosted their price objective on shares of Xometry from $110.00 to $114.00 and gave the company an "overweight" rating in a report on Wednesday. The Goldman Sachs Group boosted their price objective on shares of Xometry from $78.00 to $104.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada upped their target price on Xometry from $100.00 to $117.00 and gave the company a "hold" rating in a research report on Wednesday. Eight 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $123.64.

Xometry Stock Up 6.6%

The business's fifty day simple moving average is $97.84 and its two-hundred day simple moving average is $76.95. The company has a market cap of $6.02 billion, a PE ratio of -343.19 and a beta of 1.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.15 and a quick ratio of 3.20.

Xometry (NASDAQ:XMTR - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.09. Xometry had a negative net margin of 1.97% and a positive return on equity of 0.18%. The business had revenue of $252.44 million for the quarter, compared to analyst estimates of $235.54 million. During the same period in the prior year, the company posted $0.11 EPS. The company's revenue for the quarter was up 39.5% on a year-over-year basis. On average, analysts predict that Xometry, Inc. will post -0.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Sanjeev Sahni sold 1,500 shares of the stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $108.80, for a total transaction of $163,200.00. Following the transaction, the chief executive officer owned 178,291 shares in the company, valued at $19,398,060.80. This trade represents a 0.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Katharine Weymouth sold 5,000 shares of Xometry stock in a transaction on Monday, August 31st. The shares were sold at an average price of $95.23, for a total transaction of $476,150.00. Following the completion of the sale, the director directly owned 35,345 shares in the company, valued at $3,365,904.35. This represents a 12.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 63,199 shares of company stock valued at $6,037,855 over the last ninety days. 9.10% of the stock is owned by corporate insiders.

Institutional Trading of Xometry

Several institutional investors have recently modified their holdings of XMTR. Odyssean LLC acquired a new stake in Xometry during the 2nd quarter worth $1,464,000. Zevenbergen Capital Investments LLC grew its holdings in shares of Xometry by 115.1% during the third quarter. Zevenbergen Capital Investments LLC now owns 297,552 shares of the company's stock worth $30,603,000 after buying an additional 159,227 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of Xometry by 759.5% during the first 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 raised its position in shares of Xometry by 31.3% in the first quarter. Sylebra Capital LLC now owns 535,624 shares of the company's stock valued at $21,875,000 after buying an additional 127,637 shares during 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. Institutional investors and hedge funds own 97.31% of the company's stock.

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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