Xometry (NASDAQ:XMTR) Given New $42.00 Price Target at The Goldman Sachs Group

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 target hoisted by The Goldman Sachs Group from $33.00 to $42.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Citigroup reissued an "outperform" rating on shares of Xometry in a research report on Friday, July 11th. Cantor Fitzgerald raised shares of Xometry from an "underweight" rating to a "neutral" rating and set a $41.00 target price on the stock in a research report on Tuesday, August 5th. JPMorgan Chase & Co. raised their target price on shares of Xometry from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. UBS Group raised their target price on shares of Xometry from $35.00 to $40.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Royal Bank Of Canada lifted their price target on shares of Xometry from $32.00 to $36.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Xometry presently has a consensus rating of "Moderate Buy" and an average price target of $40.44.

Xometry Stock Down 3.3%

NASDAQ:XMTR traded down $1.44 on Wednesday, reaching $41.64. The stock had a trading volume of 945,087 shares, compared to its average volume of 998,949. The company has a debt-to-equity ratio of 1.20, a current ratio of 3.91 and a quick ratio of 3.85. The firm's fifty day moving average is $34.09 and its two-hundred day moving average is $30.59. Xometry has a 12-month low of $14.68 and a 12-month high of $47.46.

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

Insider Transactions 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 value of $302,263.48. Following the sale, the chief executive officer directly owned 319,602 shares of the company's stock, valued at $10,351,908.78. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Xometry

A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Xometry by 0.9% in the second quarter. Geode Capital Management LLC now owns 1,084,117 shares of the company's stock worth $36,637,000 after purchasing an additional 9,360 shares during the period. KBC Group NV bought a new stake in Xometry in the second quarter valued at $55,000. Lisanti Capital Growth LLC lifted its stake in Xometry by 140.0% in the second quarter. Lisanti Capital Growth LLC now owns 120,185 shares of the company's stock valued at $4,061,000 after buying an additional 70,105 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Xometry in the second quarter valued at $211,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Xometry by 37.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 257,485 shares of the company's stock valued at $8,700,000 after buying an additional 70,421 shares during the last quarter. Institutional investors and hedge funds own 97.31% of the company's stock.

Xometry Company Profile

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.