Xometry (NASDAQ:XMTR) Research Coverage Started at Rosenblatt Securities

Rosenblatt Securities began coverage on shares of Xometry (NASDAQ:XMTR) in a report released on Thursday, Marketbeat reports. The brokerage issued a buy rating and a $110.00 target price on the stock.

XMTR has been the subject of a number of other reports. Citizens Jmp lifted their price target on shares of Xometry from $75.00 to $100.00 and gave the company a “market outperform” rating in a research report on Friday, May 8th. The Goldman Sachs Group lifted their target price on shares of Xometry from $78.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Royal Bank Of Canada lifted their target price on Xometry from $85.00 to $100.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Cantor Fitzgerald increased their price objective on Xometry from $85.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Finally, Wedbush began coverage on Xometry in a report on Thursday, July 16th. They set an “outperform” rating and a $126.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $102.78.

Xometry Stock Performance

NASDAQ XMTR opened at $83.59 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.20 and a current ratio of 3.21. The firm has a market capitalization of $4.33 billion, a P/E ratio of -139.31 and a beta of 1.29. The stock’s fifty day moving average is $91.50 and its two-hundred day moving average is $70.29. Xometry has a fifty-two week low of $35.86 and a fifty-two week high of $106.08.

Xometry (NASDAQ:XMTR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. Xometry had a negative net margin of 3.82% and a negative return on equity of 2.88%. The business had revenue of $229.28 million during the quarter, compared to analysts’ expectations of $215.22 million. During the same quarter in the prior year, the company posted $0.09 EPS. The business’s revenue for the quarter was up 41.1% on a year-over-year basis. On average, research analysts anticipate that Xometry will post -0.02 earnings per share for the current year.

Insiders Place Their Bets

In other Xometry news, CFO James Miln sold 1,500 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $87.92, for a total transaction of $131,880.00. Following the sale, the chief financial officer directly owned 177,631 shares in the company, valued at approximately $15,617,317.52. The trade was a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjeev Singh Sahni sold 1,500 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $90.19, for a total value of $135,285.00. Following the completion of the transaction, the chief executive officer owned 182,403 shares of the company’s stock, valued at approximately $16,450,926.57. This represents a 0.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 34,553 shares of company stock worth $3,159,518. 9.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Xometry

Hedge funds have recently bought and sold shares of the stock. Odyssean LLC acquired a new position in shares of Xometry in the second quarter worth $1,464,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Xometry in the second quarter valued at $414,000. Nykredit A S acquired a new stake in shares of Xometry during the second quarter valued at $103,000. Wellington Management Group LLP boosted its stake in shares of Xometry by 26.9% during the second quarter. Wellington Management Group LLP now owns 1,322,581 shares of the company’s stock valued at $127,656,000 after acquiring an additional 280,491 shares during the last quarter. Finally, CoreCap Advisors LLC purchased a new stake in Xometry during the 2nd quarter worth about $97,000. Hedge funds and other 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.