Xometry (NASDAQ:XMTR) Rating Increased to Strong-Buy at Rosenblatt Securities

Key Points

• Rosenblatt Securities upgraded Xometry to “strong buy,” while the broader analyst consensus remains “moderate buy” with an average price target of $102.78.
• Xometry reported quarterly revenue of $229.28 million, up 41.1% year over year and above expectations, while EPS of $0.16 narrowly beat the $0.15 consensus estimate.
• The stock opened at $83.12, down 1.7%, and remains well below its 12-month high of $106.08; company insiders have sold approximately $2.74 million worth of shares over the past three months.

Xometry (NASDAQ:XMTR - Get Free Report) was upgraded by analysts at Rosenblatt Securities to a "strong-buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other brokerages have also recently commented on XMTR. The Goldman Sachs Group increased their price target on shares of Xometry from $78.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Citizens Jmp boosted their price objective on shares of Xometry from $75.00 to $100.00 and gave the stock a "market outperform" rating in a research note on Friday, May 8th. Wedbush started coverage on shares of Xometry in a report on Thursday, July 16th. They issued an "outperform" rating and a $126.00 target price on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Xometry in a research note on Friday, May 29th. Finally, Royal Bank Of Canada lifted their price target on Xometry from $85.00 to $100.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.78.

Xometry Stock Down 1.7%

NASDAQ:XMTR opened at $83.12 on Wednesday. Xometry has a twelve month low of $35.86 and a twelve month high of $106.08. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of -138.53 and a beta of 1.29. The company has a quick ratio of 3.20, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The stock's 50 day moving average price is $91.57 and its two-hundred day moving average price is $70.20.

Xometry (NASDAQ:XMTR - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. Xometry had a negative return on equity of 2.88% and a negative net margin of 3.82%.The company had revenue of $229.28 million during the quarter, compared to the consensus estimate of $215.22 million. During the same quarter in the prior year, the firm posted $0.09 EPS. The firm's revenue for the quarter was up 41.1% compared to the same quarter last year. Equities research analysts expect that Xometry will post -0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Xometry news, CFO James Miln sold 1,500 shares of the company's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $87.92, for a total value of $131,880.00. Following the transaction, the chief financial officer directly owned 177,631 shares of the company's stock, valued at $15,617,317.52. This represents a 0.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sanjeev Singh Sahni sold 1,500 shares of Xometry stock in a transaction on Monday, August 17th. The stock was sold at an average price of $90.19, for a total value of $135,285.00. Following the sale, the chief executive officer directly owned 182,403 shares of the company's stock, valued at $16,450,926.57. This represents a 0.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,553 shares of company stock worth $2,737,968 over the last three months. 9.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Kemnay Advisory Services Inc. acquired a new stake in shares of Xometry in the fourth quarter valued at approximately $28,000. Quantbot Technologies LP acquired a new stake in Xometry during the third quarter worth approximately $30,000. Leonteq Securities AG acquired a new stake in Xometry during the fourth quarter worth approximately $59,000. CoreCap Advisors LLC bought a new position in Xometry during the 2nd quarter worth $97,000. Finally, Comerica Bank increased its stake in Xometry by 17.9% during the 3rd quarter. Comerica Bank now owns 1,140 shares of the company's stock worth $62,000 after acquiring an additional 173 shares during the period. Institutional investors and hedge funds 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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