Xometry (NASDAQ:XMTR) Hits New 1-Year High - What's Next?

Key Points

• Xometry's stock reached a new 52-week high at $47.69, reflecting a significant price increase from a previous close of $43.04.
• Analysts have shown a positive outlook for Xometry, with several raising their target prices, leading to an average target price of $40.44 and a rating of "Moderate Buy."
• The company reported 22.6% year-over-year revenue growth, with quarterly earnings exceeding expectations at $0.09 EPS, beating the consensus estimate of $0.05 EPS.

Xometry, Inc. (NASDAQ:XMTR - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The company traded as high as $47.66 and last traded at $47.69, with a volume of 509339 shares changing hands. The stock had previously closed at $43.04.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on XMTR shares. Royal Bank Of Canada increased their target price 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. JMP Securities increased their target price on Xometry from $45.00 to $50.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. raised their price objective on Xometry from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. UBS Group raised their price objective on Xometry from $35.00 to $40.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, Cantor Fitzgerald raised Xometry from an "underweight" rating to a "neutral" rating and set a $41.00 target price for the company in a research report on Tuesday, August 5th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $40.44.

Xometry Stock Up 10.3%

The company has a current ratio of 3.91, a quick ratio of 3.85 and a debt-to-equity ratio of 1.20. The firm has a market cap of $2.41 billion, a PE ratio of -38.59 and a beta of 0.83. The stock has a fifty day simple moving average of $34.30 and a two-hundred day simple moving average of $30.65.

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

Insiders Place Their Bets

In related news, CEO Randolph Altschuler sold 9,332 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $32.39, for a total value of $302,263.48. Following the completion of the sale, the chief executive officer owned 319,602 shares in the company, valued at $10,351,908.78. The trade was a 2.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 9.66% of the stock is owned by insiders.

Institutional Trading of Xometry

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Xometry by 160.1% during the first quarter. GAMMA Investing LLC now owns 1,004 shares of the company's stock valued at $25,000 after buying an additional 618 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Xometry in the fourth quarter worth $38,000. CWM LLC grew its stake in shares of Xometry by 825.6% in the first quarter. CWM LLC now owns 1,555 shares of the company's stock worth $39,000 after acquiring an additional 1,387 shares during the last quarter. Comerica Bank grew its stake in shares of Xometry by 195.1% in the fourth quarter. Comerica Bank now owns 1,133 shares of the company's stock worth $48,000 after acquiring an additional 749 shares during the last quarter. Finally, CoreCap Advisors LLC purchased a new stake in shares of Xometry in the fourth quarter worth $51,000. Institutional investors 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.

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