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

Xometry (NASDAQ:XMTR) had its price objective raised by equities researchers at Citigroup from $65.00 to $98.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 18.03% from the company’s previous close.

Several other analysts also recently weighed in on the stock. Cantor Fitzgerald raised shares of Xometry from a “neutral” rating to an “overweight” rating and set a $62.00 target price on the stock in a research report on Thursday, April 30th. Zacks Research raised shares of Xometry from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $78.00 price objective on shares of Xometry in a report on Friday. Citizens Jmp upped their price objective on shares of Xometry from $75.00 to $100.00 and gave the company a “market outperform” rating in a report on Friday. Finally, William Blair reaffirmed an “outperform” rating on shares of Xometry in a report on Tuesday, February 24th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $76.00.

Xometry Stock Up 2.8%

Shares of NASDAQ:XMTR traded up $2.29 during trading hours on Tuesday, hitting $83.03. The company’s stock had a trading volume of 626,357 shares, compared to its average volume of 976,504. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.78 and a quick ratio of 1.76. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of -81.40 and a beta of 1.01. The firm’s fifty day moving average price is $45.61 and its 200 day moving average price is $54.55. Xometry has a 52 week low of $29.60 and a 52 week high of $83.63.

Xometry (NASDAQ:XMTR) last released its earnings results on Thursday, May 7th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.05. The company had revenue of $205.14 million for the quarter, compared to the consensus estimate of $188.46 million. Xometry had a negative net margin of 7.01% and a negative return on equity of 4.37%. Xometry’s revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) EPS. As a group, research analysts expect that Xometry will post -0.21 EPS for the current year.

Insider Activity

In related news, CTO Vaidyanathan Raghavan sold 4,572 shares of the 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 of the company’s stock, valued at approximately $2,793,365.76. This represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Subir Dutt sold 2,410 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $43.47, for a total transaction of $104,762.70. Following the sale, the insider directly owned 88,633 shares in the company, valued at $3,852,876.51. This trade represents a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 64,991 shares of company stock valued at $2,822,263 in the last three months. Corporate insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Xometry

A number of large investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its position in Xometry by 54.2% during the third quarter. Ameriprise Financial Inc. now owns 1,964,909 shares of the company’s stock worth $107,029,000 after acquiring an additional 690,558 shares during the period. First Trust Advisors LP raised its position in Xometry by 9.2% during the fourth quarter. First Trust Advisors LP now owns 1,576,075 shares of the company’s stock worth $93,729,000 after acquiring an additional 132,792 shares during the period. Baillie Gifford & Co. raised its position in Xometry by 1.6% during the fourth quarter. Baillie Gifford & Co. now owns 1,306,151 shares of the company’s stock worth $77,677,000 after acquiring an additional 20,901 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Xometry in the fourth quarter valued at about $76,393,000. Finally, State Street Corp raised its position in shares of Xometry by 1.2% in the fourth quarter. State Street Corp now owns 978,540 shares of the company’s stock valued at $58,194,000 after buying an additional 11,272 shares during the last quarter. 97.31% of the stock is currently owned by institutional investors and hedge funds.

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.