UBS Group Forecasts Strong Price Appreciation for Xometry (NASDAQ:XMTR) Stock

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 increased by UBS Group from $35.00 to $40.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms have also recently commented on XMTR. JPMorgan Chase & Co. raised their price target on Xometry from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, June 3rd. Cantor Fitzgerald raised Xometry from an "underweight" rating to a "neutral" rating and set a $41.00 target price for the company in a report on Tuesday. The Goldman Sachs Group boosted their target price 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. Citigroup reiterated an "outperform" rating on shares of Xometry in a report on Friday, July 11th. Finally, Royal Bank Of Canada raised their price objective on shares of Xometry from $32.00 to $36.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Xometry currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.44.

Xometry Stock Performance

XMTR traded down $1.57 during trading on Wednesday, hitting $41.51. The stock had a trading volume of 111,930 shares, compared to its average volume of 711,017. The firm has a market capitalization of $2.10 billion, a P/E ratio of -33.79 and a beta of 0.83. The company has a debt-to-equity ratio of 1.20, a quick ratio of 3.70 and a current ratio of 3.91. Xometry has a twelve month low of $14.68 and a twelve month high of $47.46. The company's 50-day moving average price is $33.92 and its 200 day moving average price is $30.56.

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, topping analysts' consensus estimates of $0.05 by $0.04. The business had revenue of $162.55 million for the quarter, compared to analyst estimates of $156.53 million. Xometry had a negative net margin of 10.20% and a negative return on equity of 6.79%. The business's revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.01) earnings per share. On average, equities research analysts forecast that Xometry will post -0.66 EPS for the current fiscal year.

Insider Activity

In other Xometry news, CEO Randolph Altschuler sold 9,332 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $32.39, for a total transaction of $302,263.48. Following the sale, the chief executive officer 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 9.66% of the stock is owned by corporate insiders.

Institutional Trading of Xometry

Large investors have recently made changes to their positions in the stock. First Trust Advisors LP raised its stake in Xometry by 2,144.2% in the 4th quarter. First Trust Advisors LP now owns 817,475 shares of the company's stock valued at $34,873,000 after purchasing an additional 781,049 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Xometry by 225.7% during the 4th quarter. Ameriprise Financial Inc. now owns 852,813 shares of the company's stock worth $36,381,000 after acquiring an additional 590,974 shares during the period. Nuveen LLC acquired a new stake in shares of Xometry in the first quarter worth approximately $14,639,000. Next Century Growth Investors LLC grew its holdings in Xometry by 194.1% in the first quarter. Next Century Growth Investors LLC now owns 664,292 shares of the company's stock valued at $16,554,000 after purchasing an additional 438,393 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in Xometry during the fourth quarter worth approximately $17,623,000. Institutional investors and hedge funds 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.