Xometry (NASDAQ:XMTR) Sets New 52-Week High After Earnings Beat

Key Points

• Xometry's shares hit a new 52-week high of $47.46 after reporting earnings of $0.09 per share, exceeding expectations of $0.05.
• The company achieved a 22.6% year-over-year revenue increase, totaling $162.55 million for the quarter, surpassing the consensus estimate of $156.53 million.
• Analysts have raised price targets for Xometry, with the consensus target currently at $38, indicating a general optimism towards the stock's performance.

Shares of Xometry, Inc. (NASDAQ:XMTR - Get Free Report) hit a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $47.46 and last traded at $44.28, with a volume of 6209406 shares. The stock had previously closed at $30.97.

The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.04. The company had revenue of $162.55 million for the quarter, compared to analyst estimates of $156.53 million. Xometry had a negative return on equity of 6.79% and a negative net margin of 10.20%. The firm's quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) earnings per share.

Analyst Ratings Changes

A number of equities research analysts recently commented on XMTR shares. UBS Group increased their target price on shares of Xometry from $35.00 to $40.00 and gave the company a "neutral" rating in a research report on Wednesday. Royal Bank Of Canada increased their price objective on Xometry from $32.00 to $36.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. boosted their target price on Xometry from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 3rd. Citigroup reaffirmed an "outperform" rating on shares of Xometry in a research report on Friday, July 11th. Finally, The Goldman Sachs Group boosted their price target on Xometry from $33.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $40.44.

Insider Buying and Selling

In related news, CEO Randolph Altschuler sold 9,332 shares of Xometry stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 319,602 shares in the company, valued at approximately $10,351,908.78. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its holdings in Xometry by 264.2% during the first quarter. Federated Hermes Inc. now owns 37,271 shares of the company's stock valued at $929,000 after purchasing an additional 27,036 shares in the last quarter. State of Wyoming lifted its stake in Xometry by 8.2% in the 4th quarter. State of Wyoming now owns 8,876 shares of the company's stock valued at $379,000 after buying an additional 676 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in Xometry during the 1st quarter worth approximately $420,000. GAMMA Investing LLC boosted its stake in shares of Xometry by 6,381.9% in the first quarter. GAMMA Investing LLC now owns 25,020 shares of the company's stock worth $623,000 after acquiring an additional 24,634 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Xometry by 259.0% during the first quarter. SG Americas Securities LLC now owns 50,035 shares of the company's stock worth $1,247,000 after purchasing an additional 36,097 shares in the last quarter. Hedge funds and other institutional investors own 97.31% of the company's stock.

Xometry Trading Down 3.3%

The company has a 50 day moving average of $34.09 and a 200 day moving average of $30.61. The company has a debt-to-equity ratio of 1.20, a quick ratio of 3.70 and a current ratio of 3.91. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -33.85 and a beta of 0.83.

Xometry Company Profile

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.