JMP Securities Reiterates “Market Outperform” Rating for Xometry (NASDAQ:XMTR)

Xometry (NASDAQ:XMTR)‘s stock had its “market outperform” rating reiterated by research analysts at JMP Securities in a note issued to investors on Tuesday, Benzinga reports. They presently have a $30.00 target price on the stock. JMP Securities’ price objective points to a potential upside of 77.62% from the stock’s previous close.

Several other research firms also recently weighed in on XMTR. UBS Group reduced their price target on shares of Xometry from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. The Goldman Sachs Group dropped their price target on shares of Xometry from $46.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, March 1st. TheStreet cut shares of Xometry from a “c-” rating to a “d” rating in a research report on Thursday, February 29th. Finally, Royal Bank of Canada lowered their price objective on shares of Xometry from $38.00 to $23.00 and set a “sector perform” rating for the company in a research report on Friday, March 1st. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.67.

Xometry Stock Performance

Xometry stock opened at $16.89 on Tuesday. The company has a 50 day moving average price of $19.97 and a 200-day moving average price of $23.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 4.25 and a current ratio of 4.28. Xometry has a fifty-two week low of $12.45 and a fifty-two week high of $38.74. The company has a market capitalization of $820.52 million, a PE ratio of -12.06 and a beta of 0.71.

Xometry (NASDAQ:XMTR) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $128.15 million during the quarter, compared to the consensus estimate of $127.78 million. Xometry had a negative return on equity of 17.34% and a negative net margin of 14.56%. As a group, equities analysts forecast that Xometry will post -0.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO James M. Rallo sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $30.85, for a total value of $154,250.00. Following the transaction, the chief financial officer now directly owns 44,381 shares in the company, valued at approximately $1,369,153.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Xometry news, CFO James M. Rallo sold 5,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $30.85, for a total transaction of $154,250.00. Following the sale, the chief financial officer now directly owns 44,381 shares in the company, valued at approximately $1,369,153.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Peter Goguen sold 3,943 shares of Xometry stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $17.61, for a total transaction of $69,436.23. Following the completion of the transaction, the chief operating officer now directly owns 197,211 shares in the company, valued at approximately $3,472,885.71. The disclosure for this sale can be found here. Insiders sold a total of 11,243 shares of company stock valued at $279,642 in the last ninety days. Corporate insiders own 19.23% of the company’s stock.

Institutional Investors Weigh In On Xometry

A number of hedge funds have recently bought and sold shares of the company. Primecap Management Co. CA increased its holdings in shares of Xometry by 0.3% during the fourth quarter. Primecap Management Co. CA now owns 6,652,858 shares of the company’s stock worth $238,904,000 after buying an additional 21,647 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Xometry by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 3,800,370 shares of the company’s stock worth $136,471,000 after purchasing an additional 26,718 shares in the last quarter. Fred Alger Management LLC raised its holdings in shares of Xometry by 47.5% during the third quarter. Fred Alger Management LLC now owns 2,584,913 shares of the company’s stock worth $43,892,000 after acquiring an additional 832,005 shares during the period. New York State Common Retirement Fund increased its stake in Xometry by 9.4% in the 4th quarter. New York State Common Retirement Fund now owns 1,093,862 shares of the company’s stock valued at $39,281,000 after buying an additional 94,436 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Xometry in the 4th quarter valued at $21,165,000. 97.31% of the stock is currently owned by institutional investors.

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.