Xometry (NASDAQ:XMTR) Trading 9.8% Higher - Here's What Happened

Key Points

• Xometry shares jumped 9.8% to about $96.73, though trading volume was roughly 84% below the average session volume.
• Analysts raised several price targets, with Citigroup, Cantor Fitzgerald and Rosenblatt Securities setting targets of $110; the stock carries a consensus “Moderate Buy” rating and a $108.33 average target.
• Xometry exceeded quarterly expectations, reporting adjusted EPS of $0.16 versus $0.15 expected and revenue of $229.28 million, up 41.1% year over year, despite a negative net margin.

Xometry, Inc. (NASDAQ:XMTR - Get Free Report)'s share price shot up 9.8% during trading on Thursday . The stock traded as high as $95.56 and last traded at $96.7250. Approximately 147,378 shares changed hands during trading, a decline of 84% from the average session volume of 902,571 shares. The stock had previously closed at $88.08.

Analysts Set New Price Targets

A number of brokerages have issued reports on XMTR. Citigroup lifted their price objective on Xometry from $98.00 to $110.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Royal Bank Of Canada raised their price objective on shares of Xometry from $85.00 to $100.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 5th. Cantor Fitzgerald boosted their target price on Xometry from $85.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Citizens Jmp raised their price target on Xometry from $75.00 to $100.00 and gave the company a "market outperform" rating in a report on Friday, May 8th. Finally, Rosenblatt Securities assumed coverage on Xometry in a research note on Thursday, August 20th. They issued a "buy" rating and a $110.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Xometry presently has a consensus rating of "Moderate Buy" and a consensus price target of $108.33.

Xometry Price Performance

The stock has a market capitalization of $5.07 billion, a P/E ratio of -164.36 and a beta of 1.29. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.20 and a current ratio of 3.21. The stock has a 50-day simple moving average of $91.48 and a 200 day simple moving average of $70.92.

Xometry (NASDAQ:XMTR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $229.28 million for the quarter, compared to analysts' expectations of $215.22 million. Xometry had a negative return on equity of 2.88% and a negative net margin of 3.82%.The firm's quarterly revenue was up 41.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share. On average, equities analysts forecast that Xometry, Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Xometry

In related news, 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 transaction of $421,550.00. Following the completion of the sale, the director directly owned 15,136 shares of the company's stock, valued at $1,276,116.16. The trade was a 24.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lukas Alexander Biewald bought 47,058 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was bought at an average cost of $85.00 per share, for a total transaction of $3,999,930.00. Following the purchase, the director directly owned 55,134 shares of the company's stock, valued at approximately $4,686,390. This trade represents a 582.69% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 32,053 shares of company stock valued at $2,922,018. 9.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of XMTR. Kemnay Advisory Services Inc. bought a new position in shares of Xometry during the fourth quarter worth $28,000. Quantbot Technologies LP bought a new stake in shares of Xometry in the third quarter worth about $30,000. Leonteq Securities AG acquired a new stake in shares of Xometry during the fourth quarter worth about $59,000. CoreCap Advisors LLC bought a new position in shares of Xometry during the 2nd quarter valued at about $97,000. Finally, Nykredit A S acquired a new position in shares of Xometry in the 2nd quarter valued at approximately $103,000. Institutional investors own 97.31% of the company's stock.

Xometry Company Profile

Xometry, Inc NASDAQ: XMTR operates a technology-driven marketplace that connects businesses with on-demand manufacturing capacity across a wide array of processes. Through its proprietary Instant Quoting Engine and Xometry Platform, the company streamlines sourcing for CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other custom manufacturing services. By aggregating a network of thousands of vetted suppliers, Xometry offers rapid lead times, transparent pricing and real-time order tracking to customers in sectors ranging from automotive and aerospace to medical devices and industrial equipment.

Since its founding in 2013 and headquarters in Rockville, Maryland, Xometry has expanded its geographic reach to serve customers in North America, Europe and beyond.

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