Xometry (NASDAQ:XMTR) Price Target Raised to $40.00 at UBS Group

Key Points

• UBS Group raised its price target for Xometry from $35.00 to $40.00, but maintains a "neutral" rating, indicating a potential downside of 10.23% from the current price.
• Other analysts, including Goldman Sachs and JPMorgan, have also recently adjusted their price targets for Xometry, with several firms rating the stock as a "buy."
• Xometry's shares increased by 0.6% during trading, reaching $44.56, with a market cap of $2.26 billion and a range between a 1-year low of $11.33 and a high of $47.46.

Xometry (NASDAQ:XMTR - Free Report) had its price objective upped by UBS Group from $35.00 to $40.00 in a research report released on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other analysts also recently weighed in on the stock. Citigroup restated an "outperform" rating on shares of Xometry in a research report on Friday, July 11th. JPMorgan Chase & Co. boosted their price objective 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. Cantor Fitzgerald upgraded shares of Xometry from an "underweight" rating to a "neutral" rating and set a $41.00 price objective for the company in a research report on Tuesday, August 5th. Royal Bank Of Canada boosted their price objective on shares of Xometry from $32.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group boosted their price objective on shares of Xometry from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Xometry has a consensus rating of "Moderate Buy" and an average target price of $40.44.

Xometry Stock Down 3.3%

NASDAQ:XMTR traded down $1.44 during mid-day trading on Wednesday, hitting $41.64. The stock had a trading volume of 945,087 shares, compared to its average volume of 998,949. The stock has a 50-day simple moving average of $34.09 and a two-hundred day simple moving average of $30.59. Xometry has a twelve month low of $14.68 and a twelve month high of $47.46. The company has a quick ratio of 3.85, a current ratio of 3.91 and a debt-to-equity ratio of 1.20.

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

Insider Transactions at Xometry

In other Xometry news, CEO Randolph Altschuler sold 9,332 shares of the business'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 transaction, the chief executive officer directly owned 319,602 shares of the company's stock, valued at approximately $10,351,908.78. The trade was a 2.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.66% of the company's stock.

Institutional Investors Weigh In On Xometry

Institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board purchased a new stake in shares of Xometry during the 4th quarter worth $38,000. GAMMA Investing LLC boosted its position in shares of Xometry by 160.1% during the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the company's stock worth $25,000 after purchasing an additional 618 shares in the last quarter. Comerica Bank boosted its position in shares of Xometry by 195.1% during the 4th quarter. Comerica Bank now owns 1,133 shares of the company's stock worth $48,000 after purchasing an additional 749 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Xometry during the 4th quarter worth $51,000. Finally, CWM LLC boosted its position in shares of Xometry by 825.6% during the 1st quarter. CWM LLC now owns 1,555 shares of the company's stock worth $39,000 after purchasing an additional 1,387 shares in the last quarter. 97.31% of the stock is currently owned by hedge funds and other institutional investors.

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.