Rosenblatt Securities Forecasts Strong Price Appreciation for Xometry (NASDAQ:XMTR) Stock

Xometry (NASDAQ:XMTR) had its price objective lifted by investment analysts at Rosenblatt Securities from $130.00 to $140.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities‘s target price points to a potential upside of 17.05% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Citigroup increased their target price on Xometry from $110.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, November 4th. Royal Bank Of Canada increased their price objective on shares of Xometry from $100.00 to $117.00 and gave the stock a “hold” rating in a report on Wednesday, November 4th. Zacks Research raised shares of Xometry from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 6th. Raymond James Financial set a $120.00 target price on shares of Xometry in a report on Tuesday, September 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Xometry from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Xometry presently has a consensus rating of “Moderate Buy” and an average price target of $124.55.

Xometry Trading Down 1.0%

XMTR stock traded down $1.17 during midday trading on Friday, hitting $119.61. The stock had a trading volume of 576,386 shares, compared to its average volume of 884,573. The firm has a market cap of $6.20 billion, a PE ratio of -351.78 and a beta of 1.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.15 and a quick ratio of 3.13. Xometry has a 12-month low of $35.86 and a 12-month high of $127.49. The company’s 50-day moving average price is $100.47 and its 200 day moving average price is $78.39.

Xometry (NASDAQ:XMTR) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.09. Xometry had a positive return on equity of 0.18% and a negative net margin of 1.97%. The company had revenue of $252.44 million for the quarter, compared to analyst estimates of $235.54 million. During the same quarter in the prior year, the company posted $0.11 EPS. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. On average, equities research analysts predict that Xometry will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Randolph Altschuler sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $108.90, for a total transaction of $1,089,000.00. Following the completion of the sale, the director directly owned 531,270 shares of the company’s stock, valued at approximately $57,855,303. This trade represents a 1.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vaidyanathan Raghavan sold 5,000 shares of Xometry stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $120.00, for a total transaction of $600,000.00. Following the sale, the chief technology officer directly owned 128,911 shares in the company, valued at $15,469,320. This trade represents a 3.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 73,999 shares of company stock valued at $7,487,818. 9.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Xometry

Institutional investors have recently added to or reduced their stakes in the company. 49 Wealth Management LLC acquired a new stake in shares of Xometry during the 3rd quarter worth approximately $331,000. Palumbo Wealth Management LLC boosted its position in Xometry by 15.3% during the 3rd quarter. Palumbo Wealth Management LLC now owns 20,866 shares of the company’s stock valued at $2,146,000 after purchasing an additional 2,775 shares during the period. Advisors Asset Management Inc. acquired a new position in Xometry during the 3rd quarter valued at approximately $59,000. Alpha Financial Partners LLC acquired a new position in Xometry during the 3rd quarter valued at approximately $211,000. Finally, Stephens Investment Management Group LLC grew its stake in Xometry by 0.7% during the 3rd quarter. Stephens Investment Management Group LLC now owns 804,719 shares of the company’s stock worth $82,765,000 after buying an additional 5,539 shares during the last quarter. Institutional investors and hedge funds own 97.31% of the company’s stock.

About Xometry

Xometry, Inc. operates a digital marketplace that connects businesses needing custom-manufactured parts with a network of manufacturing suppliers. Its platform uses automated quoting and matching tools to help customers source parts and production services. Services available through the marketplace include CNC machining, 3D printing, sheet metal fabrication, injection molding, and other manufacturing processes. Xometry also offers related services such as product sourcing and procurement tools, and operates Thomasnet, an online platform for discovering and evaluating industrial suppliers.