JMP Securities Boosts Xometry (NASDAQ:XMTR) Price Target to $50.00

Key Points

• JMP Securities raised Xometry's price target from $45.00 to $50.00, indicating a potential upside of 12.70% based on the current stock price.
• Multiple analysts, including Goldman Sachs and UBS, have issued buy ratings on Xometry, reflecting a consensus rating of "Moderate Buy" and a target price of approximately $40.44.
• Xometry's shares traded at $44.37 recently, with significant insider activity, including CEO Randolph Altschuler selling over 9,000 shares.

Xometry (NASDAQ:XMTR - Free Report) had its target price lifted by JMP Securities from $45.00 to $50.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

XMTR has been the subject of a number of other reports. Cantor Fitzgerald raised shares of Xometry from an "underweight" rating to a "neutral" rating and set a $41.00 price target for the company in a report on Tuesday, August 5th. The Goldman Sachs Group increased their target price on shares of Xometry from $33.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday. Citigroup reissued an "outperform" rating on shares of Xometry in a report on Friday, July 11th. Royal Bank Of Canada boosted their price objective on Xometry from $32.00 to $36.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Finally, UBS Group boosted their price objective on Xometry from $35.00 to $40.00 and gave the company a "neutral" rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Xometry currently has a consensus rating of "Moderate Buy" and an average target price of $40.44.

Xometry Price Performance

XMTR stock traded down $1.44 on Wednesday, hitting $41.64. 945,087 shares of the company were exchanged, compared to its average volume of 998,949. Xometry has a twelve month low of $14.68 and a twelve month high of $47.46. The business's fifty day moving average is $34.09 and its two-hundred day moving average is $30.59. The company has a debt-to-equity ratio of 1.20, a quick ratio of 3.85 and a current ratio of 3.91.

Xometry (NASDAQ:XMTR - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $162.55 million during the quarter, compared to analyst estimates of $156.53 million. During the same quarter in the prior year, the business earned ($0.01) earnings per share. The business's quarterly revenue was up 22.6% compared to the same quarter last year. Analysts anticipate that Xometry will post -0.66 earnings per share for the current fiscal year.

Insider Activity 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 value of $302,263.48. Following the completion of the sale, the chief executive officer owned 319,602 shares of the company's stock, valued at $10,351,908.78. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 9.66% of the company's stock.

Institutional Trading of Xometry

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Xometry by 2.8% in the first quarter. Vanguard Group Inc. now owns 4,413,337 shares of the company's stock valued at $109,980,000 after acquiring an additional 120,065 shares in the last quarter. Sylebra Capital LLC boosted its stake in Xometry by 2.6% during the 1st quarter. Sylebra Capital LLC now owns 1,881,624 shares of the company's stock valued at $46,890,000 after purchasing an additional 46,874 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Xometry by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,084,117 shares of the company's stock valued at $36,637,000 after purchasing an additional 9,360 shares during the period. New York State Common Retirement Fund raised its stake in shares of Xometry by 4.4% in the 1st quarter. New York State Common Retirement Fund now owns 942,088 shares of the company's stock worth $23,477,000 after buying an additional 39,480 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Xometry by 225.7% in the fourth quarter. Ameriprise Financial Inc. now owns 852,813 shares of the company's stock valued at $36,381,000 after buying an additional 590,974 shares during the period. 97.31% of the stock is currently owned by institutional investors.

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.