Xometry (NASDAQ:XMTR) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Xometry (NASDAQ:XMTR) in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm issued an overweight rating and a $120.00 target price on the stock.

A number of other equities analysts have also issued reports on XMTR. Citigroup increased their target price on shares of Xometry from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xometry in a research note on Friday, May 29th. Rosenblatt Securities assumed coverage on shares of Xometry in a research note on Thursday, August 20th. They issued a “buy” rating and a $110.00 price target for the company. UBS Group increased their price objective on shares of Xometry from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, Citizens Jmp raised their price objective on shares of Xometry from $75.00 to $100.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.33.

Xometry Trading Up 0.3%

Shares of XMTR stock opened at $88.08 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.20 and a current ratio of 3.21. Xometry has a 1 year low of $35.86 and a 1 year high of $106.08. The stock has a fifty day moving average of $91.48 and a two-hundred day moving average of $70.92. The firm has a market capitalization of $4.56 billion, a PE ratio of -146.80 and a beta of 1.29.

Xometry (NASDAQ:XMTR) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $215.22 million. During the same quarter in the prior year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was up 41.1% compared to the same quarter last year. As a group, research analysts expect that Xometry will post -0.02 EPS for the current year.

Insider Buying and Selling at Xometry

In other Xometry news, Director Lukas Alexander Biewald purchased 47,058 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was bought at an average cost of $85.00 per share, with a total value of $3,999,930.00. Following the acquisition, the director owned 55,134 shares of the company’s stock, valued at $4,686,390. The trade was a 582.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Randolph Altschuler sold 5,722 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $93.30, for a total transaction of $533,862.60. Following the transaction, the director owned 428,750 shares of the company’s stock, valued at approximately $40,002,375. This trade represents a 1.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 32,053 shares of company stock valued at $2,922,018. Corporate insiders own 9.10% of the company’s stock.

Institutional Trading of Xometry

A number of hedge funds and other institutional investors have recently made changes to their positions in XMTR. California State Teachers Retirement System boosted its position in shares of Xometry by 9,368.5% in the 2nd quarter. California State Teachers Retirement System now owns 4,901,865 shares of the company’s stock valued at $473,128,000 after purchasing an additional 4,850,095 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in Xometry in the 4th quarter worth about $76,393,000. Ameriprise Financial Inc. raised its holdings in Xometry by 54.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,964,909 shares of the company’s stock worth $107,029,000 after buying an additional 690,558 shares during the period. Durable Capital Partners LP acquired a new stake in Xometry during the 3rd quarter worth about $36,455,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Xometry by 243.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 694,390 shares of the company’s stock valued at $29,015,000 after buying an additional 492,285 shares in the last quarter. 97.31% of the stock is currently owned by institutional investors.

Xometry Company Profile

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.