Xometry (NASDAQ:XMTR) Sets New 1-Year High Following 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.

Xometry, Inc. (NASDAQ:XMTR - Get Free Report) shares reached a new 52-week high on Wednesday following a better than expected earnings announcement. The stock 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 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 the consensus estimate of $156.53 million. Xometry had a negative return on equity of 8.30% and a negative net margin of 8.52%. Xometry's quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) earnings per share.

Analysts Set New Price Targets

Several research firms recently weighed in on XMTR. UBS Group lifted their target price on Xometry from $33.00 to $35.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada lifted their target price on Xometry from $32.00 to $36.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group lifted their target price on Xometry from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Cantor Fitzgerald upgraded Xometry from an "underweight" rating to a "neutral" rating and set a $41.00 price objective on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on Xometry from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.00.

Insider Activity

In related news, Director Emily Rollins sold 10,041 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $30.70, for a total value of $308,258.70. Following the sale, the director directly owned 11,105 shares in the company, valued at approximately $340,923.50. The trade was a 47.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Randolph Altschuler sold 9,332 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was 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 in the company, valued at $10,351,908.78. This represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Xometry

Large investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP grew its stake in shares of Xometry by 2,144.2% during the fourth quarter. First Trust Advisors LP now owns 817,475 shares of the company's stock valued at $34,873,000 after buying an additional 781,049 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Xometry by 225.7% during 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 last quarter. Nuveen LLC bought a new position in shares of Xometry during the first quarter valued at approximately $14,639,000. Next Century Growth Investors LLC grew its stake in shares of Xometry by 194.1% during the first quarter. Next Century Growth Investors LLC now owns 664,292 shares of the company's stock valued at $16,554,000 after buying an additional 438,393 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Xometry during the fourth quarter valued at approximately $17,623,000. 97.31% of the stock is owned by institutional investors.

Xometry Stock Performance

The stock has a market cap of $2.24 billion, a P/E ratio of -44.73 and a beta of 0.83. The business has a 50 day moving average price of $33.52 and a 200 day moving average price of $30.40. The company has a quick ratio of 3.70, a current ratio of 3.74 and a debt-to-equity ratio of 0.91.

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.

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