Xometry (NASDAQ:XMTR) Shares Up 5.8% - Should You Buy?

Key Points

• Xometry shares rose 5.8% to about $103, although trading volume was roughly 80% below the average session level.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $113.18; recent targets range from $95 to $120.
• The company exceeded quarterly earnings and revenue expectations, with revenue up 41.1% year over year, but it remained unprofitable. Insiders have sold more than $5.2 million in shares over the past 90 days, while institutional investors own 97.31% of the stock.

Xometry, Inc. (NASDAQ:XMTR - Get Free Report) shares traded up 5.8% during mid-day trading on Friday. The company traded as high as $101.95 and last traded at $103.0420. Approximately 174,306 shares traded hands during trading, a decline of 80% from the average session volume of 891,029 shares. The stock had previously closed at $97.38.

Analysts Set New Price Targets

Several analysts have commented on the stock. UBS Group increased their price target on shares of Xometry from $88.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. BNP Paribas Exane assumed coverage on Xometry in a research note on Friday, September 18th. They issued an "outperform" rating and a $120.00 price objective for the company. Cantor Fitzgerald raised their price target on shares of Xometry from $85.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada upped their price objective 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. Finally, Raymond James Financial set a $120.00 target price on Xometry in a research report on Tuesday. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $113.18.

Xometry Stock Performance

The company has a current ratio of 3.21, a quick ratio of 3.20 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of -169.22 and a beta of 1.32. The stock's fifty day simple moving average is $91.17 and its 200-day simple moving average is $76.90.

Xometry (NASDAQ:XMTR - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. The firm had revenue of $229.28 million for the quarter, compared to analyst estimates of $215.22 million. Xometry had a negative net margin of 3.82% and a negative return on equity of 2.88%. The business's quarterly revenue was up 41.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. Analysts predict that Xometry, Inc. will post -0.01 EPS for the current year.

Insider Activity

In other Xometry news, Director Katharine Weymouth sold 5,000 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $95.23, for a total value of $476,150.00. Following the completion of the transaction, the director owned 35,345 shares in the company, valued at approximately $3,365,904.35. This represents a 12.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Vaidyanathan Raghavan sold 5,000 shares of the business's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $96.77, for a total transaction of $483,850.00. Following the sale, the chief technology officer owned 135,777 shares in the company, valued at $13,139,140.29. The trade was a 3.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 57,053 shares of company stock worth $5,244,213 over the last ninety days. 9.10% of the stock is owned by corporate insiders.

Institutional Trading of Xometry

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of Xometry by 26.9% in the 2nd quarter. Wellington Management Group LLP now owns 1,322,581 shares of the company's stock worth $127,656,000 after buying an additional 280,491 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position 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 acquiring an additional 492,285 shares in 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 valued at $21,875,000 after acquiring an additional 127,637 shares during the last quarter. BNP Paribas Financial Markets increased its position in Xometry by 1,121.8% during the 4th quarter. BNP Paribas Financial Markets now owns 207,682 shares of the company's stock worth $12,351,000 after purchasing an additional 190,684 shares in the last quarter. Finally, Capital International Investors purchased a new position in Xometry in the 4th quarter valued at about $11,949,000. 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.

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.