Xometry (NASDAQ:XMTR) Stock Price Up 6.2% - What's Next?

Key Points

• Xometry shares rose 6.2% to $93 in mid-day trading, although volume was 73% below the average session level.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $108.33; recent targets range from $95 to $120.
• The company beat quarterly expectations with $0.16 in adjusted EPS and $229.28 million in revenue, up 41.1% year over year, but remains unprofitable with a negative net margin. Insiders have sold $5.1 million of stock over the past 90 days.

Xometry, Inc. (NASDAQ:XMTR - Get Free Report)'s stock price traded up 6.2% during mid-day trading on Wednesday . The stock traded as high as $92.00 and last traded at $93.00. 239,423 shares traded hands during trading, a decline of 73% from the average session volume of 878,804 shares. The stock had previously closed at $87.58.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on XMTR shares. Rosenblatt Securities assumed coverage on shares of Xometry in a research note on Thursday, August 20th. They issued a "buy" rating and a $110.00 target price for the company. JPMorgan Chase & Co. initiated coverage on Xometry in a research note on Monday, August 24th. They set an "overweight" rating and a $120.00 price target on the stock. Royal Bank Of Canada upped their price target on Xometry from $85.00 to $100.00 and gave the company a "sector perform" rating in a report on Wednesday, August 5th. UBS Group raised their price objective on Xometry from $88.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Finally, Cantor Fitzgerald lifted their price objective on Xometry from $85.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $108.33.

Xometry Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.20. The firm has a market cap of $4.80 billion, a P/E ratio of -154.42 and a beta of 1.32. The stock's 50 day moving average is $90.68 and its two-hundred day moving average is $74.15.

Xometry (NASDAQ:XMTR - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. The company had revenue of $229.28 million for 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%.The company's quarterly revenue was up 41.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. As a group, equities analysts predict that Xometry, Inc. will post -0.01 EPS for the current year.

Insider Buying and Selling at Xometry

In related news, Director Katharine Weymouth sold 5,000 shares of Xometry stock in a transaction dated 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 transaction, the director directly owned 35,345 shares of the company's stock, valued at $3,365,904.35. This trade represents a 12.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Emily Rollins sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $84.31, for a total transaction of $421,550.00. Following the sale, the director directly owned 15,136 shares of the company's stock, valued at approximately $1,276,116.16. The trade was a 24.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,553 shares of company stock worth $5,116,368 over the last ninety days. Company insiders own 9.10% of the company's stock.

Institutional Trading of Xometry

Hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new stake in Xometry in the 2nd quarter valued at about $36,000. Leonteq Securities AG acquired a new stake in shares of Xometry in the fourth quarter valued at approximately $59,000. PNC Financial Services Group Inc. raised its position in Xometry by 74.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,636 shares of the company's stock worth $67,000 after purchasing an additional 697 shares during the last quarter. CoreCap Advisors LLC acquired a new position in Xometry during the 2nd quarter worth $97,000. Finally, Nykredit A S acquired a new position in Xometry during the 2nd quarter worth $103,000. 97.31% of the stock is currently owned by institutional investors and hedge funds.

Xometry Company Profile

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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