Xometry, Inc. (NASDAQ:XMTR) Stock Has Consensus Price Target of $113.18 According to Brokerages

Xometry, Inc. (NASDAQ:XMTR) has received an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $113.18.

Several equities analysts recently issued reports on XMTR shares. Citizens Jmp reaffirmed a “market outperform” rating and set a $120.00 price objective on shares of Xometry in a report on Monday, September 21st. BNP Paribas Exane assumed coverage on shares of Xometry in a research note on Friday, September 18th. They issued an “outperform” rating and a $120.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xometry in a research report on Wednesday, August 26th. Raymond James Financial set a $120.00 price objective on shares of Xometry in a research note on Tuesday, September 22nd. Finally, Wedbush started coverage on shares of Xometry in a research note on Thursday, July 16th. They set an “outperform” rating and a $126.00 price objective for the company.

Insider Activity

In other news, CEO Sanjeev Sahni sold 1,500 shares of Xometry stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $108.80, for a total transaction of $163,200.00. Following the completion of the sale, the chief executive officer directly owned 178,291 shares in the company, valued at $19,398,060.80. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Vaidyanathan Raghavan sold 1,866 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $103.28, for a total transaction of $192,720.48. Following the transaction, the chief technology officer directly owned 133,911 shares in the company, valued at $13,830,328.08. The trade was a 1.37% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 64,699 shares of company stock valued at $6,169,735 over the last quarter. 9.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Xometry

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings in Xometry by 243.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 694,390 shares of the company’s stock valued at $29,015,000 after purchasing an additional 492,285 shares during the period. Wellington Management Group LLP increased its position in Xometry by 26.9% during the second quarter. Wellington Management Group LLP now owns 1,322,581 shares of the company’s stock worth $127,656,000 after purchasing an additional 280,491 shares during the last quarter. Zevenbergen Capital Investments LLC raised its stake in Xometry by 115.1% during the third quarter. Zevenbergen Capital Investments LLC now owns 297,552 shares of the company’s stock worth $30,603,000 after purchasing an additional 159,227 shares during the period. Sylebra Capital LLC raised its stake in Xometry by 31.3% during the first quarter. Sylebra Capital LLC now owns 535,624 shares of the company’s stock worth $21,875,000 after purchasing an additional 127,637 shares during the period. Finally, Sei Investments Co. raised its stake in Xometry by 45.6% during the first quarter. Sei Investments Co. now owns 274,641 shares of the company’s stock worth $11,216,000 after purchasing an additional 85,989 shares during the period. Hedge funds and other institutional investors own 97.31% of the company’s stock.

Xometry Stock Up 1.1%

XMTR stock opened at $100.82 on Tuesday. The company has a current ratio of 3.21, a quick ratio of 3.20 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $95.92 and its 200 day moving average price is $75.92. Xometry has a 52 week low of $35.86 and a 52 week high of $112.94. The company has a market cap of $5.22 billion, a P/E ratio of -168.03 and a beta of 1.23.

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

About Xometry

Xometry, Inc (NASDAQ:XMTR) operates a technology-driven marketplace that connects businesses seeking custom parts with a network of manufacturing suppliers. Its platform uses automated pricing, manufacturability analysis and digital workflows to help customers source parts and manage production more efficiently.

The company supports a range of manufacturing processes, including CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other specialized production services.