Xometry (NASDAQ:XMTR) Earns Outperform Rating from Wedbush

Key Points

• Wedbush restated an outperform rating on Xometry and kept a $126 price target, implying about 27.7% upside from the prior close.
• Other analysts are mixed but generally constructive: recent ratings included upgrades from Cantor Fitzgerald and Citizens JMP, while the overall consensus from MarketBeat is currently Hold with an average target price of $84.25.
• Xometry’s latest earnings beat expectations, with Q1 revenue up 35.9% year over year to $205.14 million and EPS of $0.12 versus the $0.07 consensus estimate.

Xometry (NASDAQ:XMTR - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Wedbush in a report issued on Thursday,Benzinga reports. They presently have a $126.00 price objective on the stock. Wedbush's target price would indicate a potential upside of 27.69% from the stock's previous close.

XMTR has been the topic of several other reports. Cantor Fitzgerald raised Xometry from a "neutral" rating to an "overweight" rating and set a $62.00 price objective on the stock in a report on Thursday, April 30th. Citigroup increased their target price on Xometry from $65.00 to $98.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. The Goldman Sachs Group restated a "neutral" rating and set a $78.00 price objective on shares of Xometry in a research report on Friday, May 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Xometry in a research report on Friday, May 29th. Finally, Citizens Jmp lifted their target price on shares of Xometry from $75.00 to $100.00 and gave the company a "market outperform" rating in a research report on Friday, May 8th. Six investment analysts have rated the stock with 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.com, the stock currently has an average rating of "Hold" and an average target price of $84.25.

Xometry Trading Up 1.6%

Shares of NASDAQ:XMTR opened at $98.68 on Thursday. Xometry has a 12-month low of $30.63 and a 12-month high of $99.88. The company has a market capitalization of $5.11 billion, a PE ratio of -96.75 and a beta of 1.27. The business has a 50 day moving average of $89.59 and a two-hundred day moving average of $65.17. The company has a current ratio of 1.78, a quick ratio of 1.76 and a debt-to-equity ratio of 0.86.

Xometry (NASDAQ:XMTR - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.05. Xometry had a negative net margin of 7.01% and a negative return on equity of 4.37%. The firm had revenue of $205.14 million during the quarter, compared to analyst estimates of $188.46 million. During the same period in the previous year, the firm earned ($0.05) EPS. The business's quarterly revenue was up 35.9% on a year-over-year basis. As a group, analysts forecast that Xometry will post -0.06 EPS for the current year.

Insider Activity

In other news, CFO James Miln sold 2,392 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $93.29, for a total transaction of $223,149.68. Following the completion of the transaction, the chief financial officer directly owned 179,131 shares in the company, valued at approximately $16,711,130.99. This represents a 1.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lukas Alexander Biewald bought 47,058 shares of the stock in a transaction on Wednesday, June 3rd. The shares were bought at an average cost of $85.00 per share, with a total value of $3,999,930.00. Following the purchase, the director owned 55,134 shares of the company's stock, valued at $4,686,390. This trade represents a 582.69% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 80,496 shares of company stock worth $7,124,340. 9.10% of the stock is owned by company insiders.

Institutional Trading of Xometry

Several institutional investors have recently added to or reduced their stakes in XMTR. Fuller & Thaler Asset Management Inc. acquired a new position in Xometry in the 4th quarter valued at about $76,393,000. Ameriprise Financial Inc. boosted its stake in shares of Xometry by 54.2% in the third quarter. Ameriprise Financial Inc. now owns 1,964,909 shares of the company's stock valued at $107,029,000 after purchasing an additional 690,558 shares during the period. Durable Capital Partners LP purchased a new position in shares of Xometry in the third quarter valued at approximately $36,455,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Xometry by 243.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 694,390 shares of the company's stock valued at $29,015,000 after purchasing an additional 492,285 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in shares of Xometry by 115.2% in the fourth quarter. Stephens Investment Management Group LLC now owns 842,987 shares of the company's stock valued at $50,132,000 after purchasing an additional 451,259 shares in the last quarter. Institutional investors and hedge funds 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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