Xometry (NASDAQ:XMTR) Sets New 1-Year High - Here's What Happened

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) reached a new 52-week high during trading on Tuesday . The stock traded as high as $47.66 and last traded at $47.69, with a volume of 509339 shares trading hands. The stock had previously closed at $43.04.

Wall Street Analyst Weigh In

XMTR has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Xometry from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 3rd. Cantor Fitzgerald upgraded shares of Xometry from an "underweight" rating to a "neutral" rating and set a $41.00 price target on the stock in a research note on Tuesday, August 5th. UBS Group upped their price objective on Xometry from $35.00 to $40.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Citigroup reaffirmed an "outperform" rating on shares of Xometry in a report on Friday, July 11th. Finally, Royal Bank Of Canada boosted their price target on Xometry from $32.00 to $36.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $40.44.

Xometry Stock Performance

The stock has a market cap of $2.42 billion, a P/E ratio of -38.76 and a beta of 0.83. The company has a quick ratio of 3.85, a current ratio of 3.91 and a debt-to-equity ratio of 1.20. The business has a 50 day moving average price of $35.30 and a two-hundred day moving average price of $31.02.

Xometry (NASDAQ:XMTR - Get Free Report) last announced its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $156.53 million. During the same period last year, the firm posted ($0.01) EPS. The company's revenue was up 22.6% on a year-over-year basis. On average, sell-side analysts forecast that Xometry, Inc. 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 dated Wednesday, July 2nd. The shares were sold at an average price of $32.39, for a total transaction of $302,263.48. Following the transaction, the chief executive officer directly owned 319,602 shares in the company, valued at approximately $10,351,908.78. This represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Xometry

Several institutional investors have recently made changes to their positions in XMTR. Summit Investment Advisors Inc. boosted its holdings in shares of Xometry by 8.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,447 shares of the company's stock valued at $190,000 after buying an additional 333 shares in the last quarter. Corebridge Financial Inc. boosted its stake in Xometry by 1.6% in the first quarter. Corebridge Financial Inc. now owns 21,481 shares of the company's stock valued at $535,000 after acquiring an additional 348 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Xometry by 68.3% in the second quarter. Advisors Asset Management Inc. now owns 1,015 shares of the company's stock valued at $34,000 after acquiring an additional 412 shares in the last quarter. Zevenbergen Capital Investments LLC grew its holdings in Xometry by 5.1% in the first quarter. Zevenbergen Capital Investments LLC now owns 10,250 shares of the company's stock worth $255,000 after purchasing an additional 500 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Xometry by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,615 shares of the company's stock valued at $697,000 after purchasing an additional 608 shares during the last quarter. Hedge funds and other 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.