Xometry (NASDAQ:XMTR) Stock Breaks Above 50-Day Moving Average - What's Next?

Key Points

• Xometry shares broke above their 50-day moving average, reaching $98.28 and last trading at $97.14, compared with a 50-day average of $95.32. The stock was reported as up 7.9%.
• Analyst sentiment remains generally positive, with an average rating of “Moderate Buy” and an average price target of $113.18. Recent targets range from $95 to $120.
• Xometry exceeded quarterly expectations, reporting $0.16 in EPS versus $0.15 expected and $229.28 million in revenue, up 41.1% year over year. However, insiders sold 64,699 shares worth approximately $6.17 million over the past 90 days.

Xometry, Inc. (NASDAQ:XMTR - Get Free Report)'s stock price passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $95.32 and traded as high as $98.28. Xometry shares last traded at $97.14, with a volume of 599,926 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. 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 research note on Wednesday, August 5th. Citizens Jmp restated a "market outperform" rating and issued a $120.00 target price on shares of Xometry in a research note on Monday, September 21st. UBS Group lifted their target price on shares of Xometry from $88.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Rosenblatt Securities lifted their target price on shares of Xometry from $110.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, September 22nd. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Xometry in a research note on Tuesday. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $113.18.

Xometry Stock Up 7.9%

The stock's fifty day simple moving average is $95.32 and its 200-day simple moving average is $75.55. The company has a market capitalization of $5.03 billion, a PE ratio of -161.90 and a beta of 1.23.

Xometry (NASDAQ:XMTR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $229.28 million for the quarter, compared to analysts' expectations of $215.22 million. Xometry's revenue was up 41.1% compared to the same quarter last year. During the same period last year, the firm earned $0.09 EPS. Analysts expect that Xometry, Inc. will post -0.01 EPS for the current year.

Insider Activity

In other news, Director Katharine Weymouth sold 5,000 shares of the firm's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $94.30, for a total value of $471,500.00. Following the completion of the transaction, the director owned 35,345 shares in the company, valued at $3,333,033.50. This trade represents a 12.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Emily Rollins sold 5,000 shares of Xometry stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $84.31, for a total value of $421,550.00. Following the transaction, the director directly owned 15,136 shares of the company's stock, valued at $1,276,116.16. This trade represents a 24.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 64,699 shares of company stock valued at $6,169,735 in the last 90 days. Insiders own 9.10% of the company's stock.

Hedge Funds Weigh In On Xometry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XMTR. Allspring Global Investments Holdings LLC increased its stake in shares of Xometry by 243.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 694,390 shares of the company's stock worth $29,015,000 after purchasing an additional 492,285 shares in the last quarter. Wellington Management Group LLP lifted its stake in Xometry by 26.9% in the 2nd quarter. Wellington Management Group LLP now owns 1,322,581 shares of the company's stock valued at $127,656,000 after buying an additional 280,491 shares in the last quarter. Zevenbergen Capital Investments LLC grew its holdings in Xometry by 115.1% during the 3rd 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. Sylebra Capital LLC grew its holdings in Xometry by 31.3% during the 1st 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, Sei Investments Co. grew its holdings in Xometry by 45.6% during the 1st quarter. Sei Investments Co. now owns 274,641 shares of the company's stock valued at $11,216,000 after buying an additional 85,989 shares during the last quarter. Institutional investors and hedge funds own 97.31% of the company's stock.

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.

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