Xometry (NASDAQ:XMTR) Given New $50.00 Price Target at JMP Securities

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 price target boosted by JMP Securities from $45.00 to $50.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other research analysts also recently commented on the stock. UBS Group increased their price target on shares of Xometry from $35.00 to $40.00 and gave the company a "neutral" rating in a report on Wednesday. Cantor Fitzgerald raised Xometry from an "underweight" rating to a "neutral" rating and set a $41.00 price objective for the company in a research note on Tuesday. Citigroup reissued an "outperform" rating on shares of Xometry in a research report on Friday, July 11th. Royal Bank Of Canada lifted their price objective on shares of Xometry from $32.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group raised 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Xometry has a consensus rating of "Moderate Buy" and a consensus target price of $40.44.

Xometry Price Performance

NASDAQ:XMTR traded down $1.57 during trading hours on Wednesday, reaching $41.51. The stock had a trading volume of 111,930 shares, compared to its average volume of 711,017. The stock has a market capitalization of $2.10 billion, a PE ratio of -33.79 and a beta of 0.83. Xometry has a 52 week low of $14.68 and a 52 week high of $47.46. The company has a 50 day moving average price of $33.92 and a two-hundred day moving average price of $30.56. 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 (NASDAQ:XMTR - Get Free Report) last released 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. 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 for the quarter, compared to the consensus estimate of $156.53 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. Xometry's revenue was up 22.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Xometry will post -0.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Xometry

In other Xometry news, CEO Randolph Altschuler sold 9,332 shares of the firm'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 owned 319,602 shares of the company's stock, valued at approximately $10,351,908.78. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Xometry

Several institutional investors have recently bought and sold shares of XMTR. LPL Financial LLC lifted its holdings in Xometry by 17.7% during the fourth quarter. LPL Financial LLC now owns 28,880 shares of the company's stock worth $1,232,000 after buying an additional 4,343 shares during the period. Pictet Asset Management Holding SA purchased a new stake in shares of Xometry during the 4th quarter worth $328,000. Alliancebernstein L.P. boosted its position in Xometry by 24.9% during the fourth quarter. Alliancebernstein L.P. now owns 43,190 shares of the company's stock valued at $1,842,000 after purchasing an additional 8,610 shares in the last quarter. Geode Capital Management LLC boosted its position in Xometry by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,004,452 shares of the company's stock valued at $42,861,000 after purchasing an additional 8,974 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Xometry by 34.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 35,294 shares of the company's stock valued at $1,506,000 after purchasing an additional 8,970 shares during the last quarter. 97.31% of the stock is owned by hedge funds and other 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.