Xometry (NASDAQ:XMTR) Stock Price Expected to Rise, Citigroup Analyst Says

Key Points

• Citigroup raised its price target on Xometry from $65 to $98 and kept a buy rating, implying about 18% upside from the prior close. Other analysts remain mixed, with the overall consensus still around Hold.
• Xometry shares rose 2.8% to $83.03 and approached their 52-week high of $83.63. The stock has moved well above its 50-day and 200-day moving averages.
• Recent earnings were stronger than expected, with Xometry reporting $0.12 EPS versus the $0.07 estimate and revenue up 35.9% year over year to $205.14 million. However, the company still posted negative margins and analysts expect a loss for the current fiscal year.

Xometry (NASDAQ:XMTR - Get Free Report) had its target price raised by Citigroup from $65.00 to $98.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price target indicates a potential upside of 18.03% from the company's previous close.

A number of other brokerages also recently weighed in on XMTR. Wedbush lowered their price objective on shares of Xometry from $70.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 25th. The Goldman Sachs Group restated a "neutral" rating and set a $78.00 price objective on shares of Xometry in a research report on Friday. UBS Group increased their price objective on shares of Xometry from $54.00 to $55.00 and gave the company a "neutral" rating in a research report on Wednesday, February 25th. Royal Bank Of Canada increased their price objective on shares of Xometry from $55.00 to $85.00 and gave the company a "sector perform" rating in a research report on Friday. Finally, William Blair restated 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 issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $76.00.

Xometry Stock Up 2.8%

Shares of NASDAQ:XMTR traded up $2.29 during trading on Tuesday, reaching $83.03. 626,357 shares of the stock traded hands, compared to its average volume of 976,504. The stock has a 50-day moving average of $45.61 and a two-hundred day moving average of $54.55. Xometry has a 52-week low of $29.60 and a 52-week high of $83.63. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.76 and a current ratio of 1.78. The stock has a market cap of $4.30 billion, a P/E ratio of -81.40 and a beta of 1.01.

Xometry (NASDAQ:XMTR - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.05. Xometry had a negative net margin of 7.01% and a negative return on equity of 4.37%. The firm had revenue of $205.14 million for the quarter, compared to analysts' expectations of $188.46 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The business's revenue for the quarter was up 35.9% on a year-over-year basis. As a group, sell-side analysts expect that Xometry will post -0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Xometry

In other news, CTO Vaidyanathan Raghavan sold 4,572 shares of the firm's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $43.44, for a total transaction of $198,607.68. Following the sale, the chief technology officer directly owned 64,304 shares in the company, valued at $2,793,365.76. This trade represents a 6.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Sanjeev Singh Sahni sold 9,978 shares of the firm's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $43.45, for a total transaction of $433,544.10. Following the sale, the president 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 64,991 shares of company stock worth $2,822,263. Insiders own 9.10% of the company's stock.

Hedge Funds Weigh In On Xometry

Institutional investors and hedge funds have recently made changes to their positions in the business. Kemnay Advisory Services Inc. purchased a new position in shares of Xometry during the 4th quarter worth about $28,000. Quantbot Technologies LP purchased a new position in shares of Xometry during the 3rd quarter worth about $30,000. GAMMA Investing LLC boosted its stake in shares of Xometry by 26.5% during the 4th quarter. GAMMA Investing LLC now owns 773 shares of the company's stock worth $46,000 after purchasing an additional 162 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Xometry during the 3rd quarter worth about $47,000. Finally, Leonteq Securities AG purchased a new position in shares of Xometry during the 4th quarter worth about $59,000. 97.31% of the stock is owned by hedge funds and other institutional investors.

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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