Xometry (NASDAQ:XMTR) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Xometry (NASDAQ:XMTR) from a strong sell rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Cantor Fitzgerald raised their price target on shares of Xometry from $41.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Xometry in a research note on Wednesday, January 21st. Wedbush cut their target price on Xometry from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Citizens Jmp set a $75.00 price target on Xometry in a report on Wednesday, November 5th. Finally, The Goldman Sachs Group raised their price objective on Xometry from $49.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Xometry presently has a consensus rating of “Hold” and a consensus price target of $62.00.

Xometry Price Performance

Shares of XMTR opened at $41.26 on Monday. The business’s fifty day moving average is $59.76 and its 200 day moving average is $56.06. Xometry has a 12-month low of $18.59 and a 12-month high of $73.87. The company has a quick ratio of 3.72, a current ratio of 3.76 and a debt-to-equity ratio of 1.18. The stock has a market cap of $2.11 billion, a P/E ratio of -33.82 and a beta of 0.90.

Xometry (NASDAQ:XMTR) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. Xometry had a negative net margin of 8.99% and a negative return on equity of 5.49%. The firm had revenue of $192.40 million for the quarter, compared to the consensus estimate of $183.37 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The business’s revenue was up 29.5% on a year-over-year basis. Sell-side analysts anticipate that Xometry will post -0.66 earnings per share for the current fiscal year.

Insider Activity at Xometry

In other Xometry news, President Sanjeev Singh Sahni sold 9,978 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $43.45, for a total value of $433,544.10. Following the completion of the transaction, the president owned 113,022 shares in the company, valued at $4,910,805.90. This represents a 8.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Randolph Altschuler sold 31,928 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $43.44, for a total value of $1,386,952.32. Following the sale, the chief executive officer directly owned 372,377 shares of the company’s stock, valued at approximately $16,176,056.88. This represents a 7.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 127,852 shares of company stock valued at $6,993,940 in the last ninety days. Insiders own 9.66% of the company’s stock.

Hedge Funds Weigh In On Xometry

Institutional investors have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. bought a new position in shares of Xometry during the 4th quarter valued at approximately $28,000. Quantbot Technologies LP bought a new stake in shares of Xometry in the 3rd quarter worth approximately $30,000. Advisors Asset Management Inc. lifted its stake in Xometry by 68.3% in the second quarter. Advisors Asset Management Inc. now owns 1,015 shares of the company’s stock valued at $34,000 after purchasing an additional 412 shares during the last quarter. Westend Capital Management LLC purchased a new position in Xometry in the third quarter valued at approximately $41,000. Finally, GAMMA Investing LLC grew its holdings in Xometry by 26.5% during the fourth quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock valued at $46,000 after purchasing an additional 162 shares during the period. Institutional investors 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.