Xometry, Inc. (NASDAQ:XMTR) Receives Average Rating of “Moderate Buy” from Brokerages

Xometry, Inc. (NASDAQ:XMTR) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $108.3333.

Several brokerages have recently issued reports on XMTR. Rosenblatt Securities initiated coverage on Xometry in a research report on Thursday, August 20th. They set a “buy” rating and a $110.00 target price for the company. Royal Bank Of Canada raised their price objective on shares of Xometry from $85.00 to $100.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Wedbush initiated coverage on shares of Xometry in a research report on Thursday, July 16th. They issued an “outperform” rating and a $126.00 price objective on the stock. UBS Group increased their target price on shares of Xometry from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Finally, Citigroup raised their price target on shares of Xometry from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th.

Xometry Stock Performance

NASDAQ XMTR opened at $86.11 on Monday. The company has a fifty day moving average price of $90.98 and a 200-day moving average price of $73.42. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of -143.51 and a beta of 1.32. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.20. Xometry has a 1 year low of $35.86 and a 1 year high of $106.08.

Xometry (NASDAQ:XMTR) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Xometry had a negative net margin of 3.82% and a negative return on equity of 2.88%. The company had revenue of $229.28 million for the quarter, compared to analyst estimates of $215.22 million. During the same period last year, the firm earned $0.09 earnings per share. The firm’s revenue was up 41.1% on a year-over-year basis. As a group, equities research analysts predict that Xometry will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Xometry news, CEO Sanjeev Sahni sold 1,500 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $90.19, for a total transaction of $135,285.00. Following the sale, the chief executive officer owned 182,403 shares in the company, valued at $16,450,926.57. This represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Vaidyanathan Raghavan sold 5,000 shares of Xometry stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $96.77, for a total value of $483,850.00. Following the completion of the transaction, the chief technology officer owned 135,777 shares of the company’s stock, valued at approximately $13,139,140.29. This trade represents a 3.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,553 shares of company stock worth $5,116,368 in the last quarter. 9.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Xometry

Institutional investors and hedge funds have recently modified their holdings of the company. California State Teachers Retirement System lifted its stake in Xometry by 9,368.5% in the 2nd quarter. California State Teachers Retirement System now owns 4,901,865 shares of the company’s stock worth $473,128,000 after purchasing an additional 4,850,095 shares in the last quarter. Ameriprise Financial Inc. grew 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 buying an additional 690,558 shares in the last quarter. First Trust Advisors LP increased its stake in Xometry by 9.2% in the 4th 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 last quarter. Wellington Management Group LLP raised its holdings in shares of Xometry by 26.9% in the 2nd quarter. Wellington Management Group LLP now owns 1,322,581 shares of the company’s stock valued at $127,656,000 after acquiring an additional 280,491 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Xometry during the 4th quarter valued at about $76,393,000. 97.31% of the stock is owned by hedge funds and other institutional investors.

About Xometry

Xometry, Inc operates a digital marketplace that connects businesses with manufacturing suppliers. Its platform uses software and data-driven tools to help customers obtain quotes, place orders and manage production for custom parts and products.

The company supports a range of manufacturing processes, including CNC machining, 3D printing, sheet-metal fabrication, injection molding and urethane casting. Its services are used for prototyping and production across industries such as aerospace, automotive, industrial equipment, consumer products and healthcare.

Founded in 2013, Xometry has expanded its marketplace and related technology offerings through organic development and acquisitions, including the 2021 acquisition of Thomas, a digital industrial sourcing and marketing business.