Xometry (NASDAQ:XMTR) Raised to Overweight at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald upgraded Xometry from "neutral" to "overweight" and set a $62 price target, implying about a 36.9% upside from current levels.
• Xometry beat quarterly EPS estimates ($0.16 vs. $0.12) and reported 29.5% YoY revenue growth to $192.4M, but the company remains unprofitable with a negative net margin (~8.99%) and negative return on equity.
• Insiders (including the CEO and president) have recently sold shares, and analysts' consensus is an average "Hold" with a roughly $62.25 target; the stock trades near $45 with a market cap around $2.35B.

Xometry (NASDAQ:XMTR - Get Free Report) was upgraded by equities researchers at Cantor Fitzgerald from a "neutral" rating to an "overweight" rating in a research report issued on Thursday, Marketbeat.com reports. The brokerage presently has a $62.00 target price on the stock. Cantor Fitzgerald's target price indicates a potential upside of 36.90% from the company's current price.

A number of other research firms also recently issued reports on XMTR. Royal Bank Of Canada decreased their target price on Xometry from $64.00 to $55.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 25th. UBS Group lifted their price target on Xometry from $54.00 to $55.00 and gave the company a "neutral" rating in a research report on Wednesday, February 25th. Citigroup reduced their price target on Xometry from $75.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, February 25th. Zacks Research upgraded Xometry from a "strong sell" rating to a "hold" rating in a research report on Monday, March 2nd. Finally, William Blair reiterated an "outperform" rating on shares of Xometry in a research report on Tuesday, February 24th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $62.25.

Xometry Stock Performance

NASDAQ:XMTR opened at $45.29 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.76 and a quick ratio of 3.72. The business has a fifty day simple moving average of $43.65 and a two-hundred day simple moving average of $53.72. Xometry has a 1 year low of $24.65 and a 1 year high of $73.87. The company has a market capitalization of $2.35 billion, a P/E ratio of -37.12 and a beta of 0.88.

Xometry (NASDAQ:XMTR - Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.04. Xometry had a negative return on equity of 5.49% and a negative net margin of 8.99%.The business had revenue of $192.40 million during the quarter, compared to the consensus estimate of $183.37 million. During the same period last year, the business posted $0.06 earnings per share. The business's revenue for the quarter was up 29.5% on a year-over-year basis. On average, analysts expect that Xometry will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Xometry

In related news, President Sanjeev Singh Sahni sold 9,978 shares of the business's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $43.45, for a total transaction of $433,544.10. Following the completion of the transaction, the president directly owned 113,022 shares in the company, valued at $4,910,805.90. The trade was a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Randolph Altschuler sold 31,928 shares of Xometry stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $43.44, for a total value of $1,386,952.32. Following the sale, the chief executive officer directly owned 372,377 shares of the company's stock, valued at approximately $16,176,056.88. This trade represents a 7.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 68,090 shares of company stock valued at $3,032,592 over the last 90 days. Insiders own 9.66% of the company's stock.

Institutional Investors Weigh In On Xometry

Hedge funds have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new stake in Xometry during the fourth quarter worth about $28,000. Quantbot Technologies LP bought a new stake in shares of Xometry in the 3rd quarter valued at about $30,000. GAMMA Investing LLC lifted its stake in shares of Xometry by 26.5% in the 4th quarter. GAMMA Investing LLC now owns 773 shares of the company's stock valued at $46,000 after acquiring an additional 162 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Xometry in the 3rd quarter valued at about $47,000. Finally, Leonteq Securities AG bought a new stake in shares of Xometry in the 4th quarter valued at about $59,000. Institutional investors own 97.31% of the company's stock.

About Xometry

Xometry, Inc NASDAQ: XMTR operates a technology-driven marketplace that connects businesses with on-demand manufacturing capacity across a wide array of processes. Through its proprietary Instant Quoting Engine and Xometry Platform, the company streamlines sourcing for CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other custom manufacturing services. By aggregating a network of thousands of vetted suppliers, Xometry offers rapid lead times, transparent pricing and real-time order tracking to customers in sectors ranging from automotive and aerospace to medical devices and industrial equipment.

Since its founding in 2013 and headquarters in Rockville, Maryland, Xometry has expanded its geographic reach to serve customers in North America, Europe and beyond.

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