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

Xometry (NASDAQ:XMTR) had its target price lifted by equities researchers at Rosenblatt Securities from $110.00 to $120.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 14.27% from the company’s previous close.

Several other analysts have also recently issued reports on the company. UBS Group increased their price objective on Xometry from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group upped their price target on Xometry from $78.00 to $104.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. BNP Paribas Exane assumed coverage on Xometry in a research report on Friday, September 18th. They issued an “outperform” rating and a $120.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xometry in a research note on Wednesday, August 26th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $120.00 price objective on shares of Xometry in a research report on Monday. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.18.

Xometry Price Performance

Shares of XMTR opened at $105.01 on Tuesday. The company has a market cap of $5.44 billion, a P/E ratio of -175.01 and a beta of 1.32. Xometry has a fifty-two week low of $35.86 and a fifty-two week high of $106.08. The company has a quick ratio of 3.20, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The firm’s 50 day moving average price is $91.15 and its 200 day moving average price is $76.51.

Xometry (NASDAQ:XMTR) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $229.28 million during the quarter, compared to analysts’ expectations of $215.22 million. Xometry had a negative net margin of 3.82% and a negative return on equity of 2.88%. The firm’s revenue was up 41.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 EPS. On average, research analysts forecast that Xometry will post -0.01 earnings per share for the current fiscal year.

Insider Transactions at Xometry

In other Xometry news, Director Randolph Altschuler sold 10,000 shares of Xometry stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $90.82, for a total value of $908,200.00. Following the sale, the director owned 551,270 shares of the company’s stock, valued at approximately $50,066,341.40. The trade was a 1.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Emily Rollins sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $84.31, for a total value of $421,550.00. Following the transaction, the director owned 15,136 shares in the company, valued at $1,276,116.16. The trade was a 24.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 57,053 shares of company stock worth $5,244,213 over the last three months. 9.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Tidal Investments LLC acquired a new stake in Xometry in the second quarter valued at $247,000. IPG Investment Advisors LLC acquired a new position in shares of Xometry during the 2nd quarter worth $241,000. Integrated Wealth Concepts LLC purchased a new position in shares of Xometry in the 2nd quarter valued at about $36,000. Nykredit A S purchased a new position in shares of Xometry in the 2nd quarter valued at about $103,000. Finally, Corient Private Wealth LP lifted its stake in shares of Xometry by 1.6% in the second quarter. Corient Private Wealth LP now owns 23,196 shares of the company’s stock valued at $2,239,000 after purchasing an additional 360 shares during the period. Hedge funds and other institutional investors own 97.31% of the company’s stock.

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.