Xometry (NASDAQ:XMTR) Shares Gap Down – What’s Next?

Xometry, Inc. (NASDAQ:XMTR) shares gapped down prior to trading on Tuesday. The stock had previously closed at $95.49, but opened at $87.80. Xometry shares last traded at $91.6790, with a volume of 147,441 shares traded.

Key Xometry News

Here are the key news stories impacting Xometry this week:

• Positive Sentiment: Strong Q3 performance: Xometry reported revenue of $252.4 million, up 39.5% year over year and above expectations, and adjusted earnings of $0.28 per share versus the $0.19 consensus. The earnings-call coverage also highlighted record revenue and a first GAAP profit. Q3 earnings call highlights
• Positive Sentiment: Marketplace growth: Marketplace revenue rose 43% to $238 million, while active buyers increased 20% to 93,812—signs of continued demand and customer growth. Three Q3 takeaways
• Positive Sentiment: Analyst targets moved higher: JPMorgan raised its target to $140 and kept an Overweight rating; Citi raised its target to $132 with a Buy rating; and Citizens JMP set a $135 target with a Market Outperform rating. Rosenblatt also raised its target to $130 and maintained Buy. These revisions reinforce optimism after the quarterly results. Citi target revision Citizens target revision
• Neutral Sentiment: Some analysts remain cautious: RBC raised its target to $117 but kept a Hold rating, citing continued growth momentum. UBS raised its target to $108 while maintaining Neutral, indicating little projected upside at the cited share price. RBC on Xometry growth momentum UBS target revision

Analyst Ratings Changes

Several analysts recently weighed in on the company. Royal Bank Of Canada upped their price target on Xometry from $100.00 to $117.00 and gave the stock a “hold” rating in a research note on Wednesday. Citizens Jmp lifted their price objective on Xometry from $120.00 to $135.00 and gave the company a “market outperform” rating in a research note on Wednesday. The Goldman Sachs Group boosted their target price on Xometry from $78.00 to $104.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Rosenblatt Securities boosted their target price on Xometry from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on Xometry from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Xometry currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.64.

Xometry Stock Performance

The firm has a market capitalization of $5.65 billion, a P/E ratio of -320.61 and a beta of 1.33. The company has a current ratio of 3.21, a quick ratio of 3.20 and a debt-to-equity ratio of 0.41. The business’s 50 day simple moving average is $97.42 and its two-hundred day simple moving average is $76.71.

Xometry (NASDAQ:XMTR) last issued its earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.09. The business had revenue of $252.44 million during the quarter, compared to analysts’ expectations of $235.54 million. Xometry had a negative net margin of 1.97% and a positive return on equity of 0.20%. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 earnings per share. Sell-side analysts anticipate that Xometry, Inc. will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Randolph Altschuler sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $90.82, for a total value of $908,200.00. Following the completion of the transaction, the director directly owned 551,270 shares in the company, valued at $50,066,341.40. The trade was a 1.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emily Rollins sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $84.31, for a total value of $421,550.00. Following the completion of the transaction, the director directly owned 15,136 shares in the company, valued at $1,276,116.16. This trade represents a 24.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 63,199 shares of company stock worth $6,037,855 over the last 90 days. 9.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in Xometry by 26.9% during the second quarter. Wellington Management Group LLP now owns 1,322,581 shares of the company’s stock valued at $127,656,000 after purchasing an additional 280,491 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Xometry by 243.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 694,390 shares of the company’s stock worth $29,015,000 after purchasing an additional 492,285 shares during the last quarter. Sylebra Capital LLC boosted its holdings in Xometry by 31.3% in the first quarter. Sylebra Capital LLC now owns 535,624 shares of the company’s stock worth $21,875,000 after purchasing an additional 127,637 shares during the last quarter. Zevenbergen Capital Investments LLC boosted its holdings in Xometry by 115.1% in the third quarter. Zevenbergen Capital Investments LLC now owns 297,552 shares of the company’s stock worth $30,603,000 after purchasing an additional 159,227 shares during the last quarter. Finally, Sei Investments Co. grew its position in Xometry by 45.6% in the 1st quarter. Sei Investments Co. now owns 274,641 shares of the company’s stock worth $11,216,000 after purchasing an additional 85,989 shares during the period. Hedge funds and other institutional investors own 97.31% of the company’s stock.

About Xometry

Xometry, Inc (NASDAQ:XMTR) operates a technology-driven marketplace that connects businesses seeking custom parts with a network of manufacturing suppliers. Its platform uses automated pricing, manufacturability analysis and digital workflows to help customers source parts and manage production more efficiently.

The company supports a range of manufacturing processes, including CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other specialized production services.