Xometry (NASDAQ:XMTR) Price Target Raised to $42.00

Key Points

• Goldman Sachs Group raised its price target for Xometry (NASDAQ:XMTR) from $33.00 to $42.00, maintaining a "buy" rating despite a potential downside of 5.75% from the current stock price.
• Other analysts such as Cantor Fitzgerald and JPMorgan Chase have upgraded their ratings and price targets for Xometry, indicating overall positive sentiment in the market.
• Xometry has recently experienced significant trading volume, with shares reaching $44.56, and has a market capitalization of approximately $2.26 billion.

Xometry (NASDAQ:XMTR - Free Report) had its price objective boosted by The Goldman Sachs Group from $33.00 to $42.00 in a report issued on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on XMTR. UBS Group increased their target price on shares of Xometry from $35.00 to $40.00 and gave the stock a "neutral" rating in a report on Wednesday. Cantor Fitzgerald upgraded shares of Xometry from an "underweight" rating to a "neutral" rating and set a $41.00 price objective on the stock in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on Xometry from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Royal Bank Of Canada upped their target price on Xometry from $32.00 to $36.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Finally, Citigroup reiterated an "outperform" rating on shares of Xometry in a research report on Friday, July 11th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $40.44.

Xometry Stock Down 3.6%

NASDAQ XMTR traded down $1.57 during trading hours on Wednesday, reaching $41.51. 111,930 shares of the company traded hands, compared to its average volume of 711,017. The stock has a market capitalization of $2.10 billion, a PE ratio of -33.79 and a beta of 0.83. The company has a current ratio of 3.91, a quick ratio of 3.70 and a debt-to-equity ratio of 1.20. Xometry has a 12 month low of $14.68 and a 12 month high of $47.46. The company has a 50 day moving average of $33.92 and a two-hundred day moving average of $30.56.

Xometry (NASDAQ:XMTR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.05 by $0.04. The company had revenue of $162.55 million during the quarter, compared to analyst estimates of $156.53 million. Xometry had a negative return on equity of 6.79% and a negative net margin of 10.20%. The business's revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. As a group, equities analysts expect that Xometry will post -0.66 earnings per share for the current year.

Insider Buying and Selling at Xometry

In related news, CEO Randolph Altschuler sold 9,332 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $32.39, for a total transaction of $302,263.48. Following the completion of the sale, the chief executive officer directly owned 319,602 shares of the company's stock, valued at approximately $10,351,908.78. This represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.66% of the company's stock.

Institutional Investors Weigh In On Xometry

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. boosted its stake in Xometry by 264.2% during the first quarter. Federated Hermes Inc. now owns 37,271 shares of the company's stock worth $929,000 after buying an additional 27,036 shares in the last quarter. State of Wyoming grew its stake in shares of Xometry by 8.2% in the 4th quarter. State of Wyoming now owns 8,876 shares of the company's stock valued at $379,000 after purchasing an additional 676 shares during the period. Vontobel Holding Ltd. bought a new stake in shares of Xometry in the 1st quarter valued at approximately $420,000. GAMMA Investing LLC raised its holdings in shares of Xometry by 6,381.9% in the 1st quarter. GAMMA Investing LLC now owns 25,020 shares of the company's stock worth $623,000 after buying an additional 24,634 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Xometry by 259.0% during the first quarter. SG Americas Securities LLC now owns 50,035 shares of the company's stock valued at $1,247,000 after acquiring an additional 36,097 shares during the period. Institutional investors and hedge funds own 97.31% of the company's stock.

About Xometry

Xometry, Inc operates an online marketplace that enables buyers to source custom-manufactured parts and assemblies in the United States and internationally. It provides computer numerical control manufacturing, sheet metal forming, and sheet cutting; 3D printing, including fused deposition modeling, direct metal laser sintering, PolyJet, stereolithography, selective laser sintering, binder jetting, carbon digital light synthesis, multi jet fusion, and lubricant sublayer photo-curing; and die casting, stamping, injection molding, urethane casting, tube cutting, and tube bending, as well as finishing services, rapid prototyping, and high-volume production services.