Xometry (NASDAQ:XMTR) Hits New 1-Year High – Still a Buy?

Xometry, Inc. (NASDAQ:XMTR) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $102.93 and last traded at $101.97, with a volume of 55636 shares changing hands. The stock had previously closed at $100.12.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on XMTR. Wedbush started coverage on Xometry in a research report on Thursday, July 16th. They set an “outperform” rating and a $126.00 price target for the company. Royal Bank Of Canada boosted their price objective on Xometry from $55.00 to $85.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Citigroup increased their target price on Xometry from $65.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. The Goldman Sachs Group restated a “neutral” rating and set a $78.00 target price on shares of Xometry in a report on Friday, May 8th. Finally, Cantor Fitzgerald raised Xometry from a “neutral” rating to an “overweight” rating and set a $62.00 target price for the company in a research report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $84.25.

Xometry Stock Performance

The company has a current ratio of 1.78, a quick ratio of 1.76 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of -101.41 and a beta of 1.27. The stock’s fifty day simple moving average is $90.71 and its 200-day simple moving average is $65.91.

Xometry (NASDAQ:XMTR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.07 by $0.05. Xometry had a negative net margin of 7.01% and a negative return on equity of 4.37%. The business had revenue of $205.14 million during the quarter, compared to the consensus estimate of $188.46 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The company’s quarterly revenue was up 35.9% compared to the same quarter last year. Analysts predict that Xometry, Inc. will post -0.06 EPS for the current year.

Insider Activity

In other Xometry news, CEO Randolph Altschuler sold 50,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $87.85, for a total transaction of $4,392,500.00. Following the sale, the chief executive officer owned 455,248 shares in the company, valued at $39,993,536.80. This represents a 9.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Vaidyanathan Raghavan sold 1,866 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $93.21, for a total value of $173,929.86. Following the completion of the sale, the chief technology officer directly owned 140,777 shares in the company, valued at $13,121,824.17. This represents a 1.31% 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. Insiders sold a total of 80,496 shares of company stock worth $7,124,340 over the last three months. Company insiders own 9.10% of the company’s stock.

Institutional Trading of Xometry

Several hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new position in Xometry in the second quarter worth approximately $97,000. PVG Asset Management Corp purchased a new stake in shares of Xometry in the 1st quarter valued at approximately $703,000. Bank of America Corp DE raised its holdings in shares of Xometry by 23.7% in the 1st quarter. Bank of America Corp DE now owns 235,414 shares of the company’s stock valued at $9,614,000 after purchasing an additional 45,158 shares in the last quarter. Sylebra Capital LLC raised its holdings in shares of Xometry by 31.3% in the 1st quarter. Sylebra Capital LLC now owns 535,624 shares of the company’s stock valued at $21,875,000 after purchasing an additional 127,637 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Xometry by 21.8% during the 1st quarter. California State Teachers Retirement System now owns 51,770 shares of the company’s stock worth $2,114,000 after purchasing an additional 9,283 shares during the last quarter. Institutional investors and hedge funds own 97.31% of the company’s stock.

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.