Xometry (NASDAQ:XMTR) Hits New 1-Year High – Still a Buy?

Xometry, Inc. (NASDAQ:XMTR)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $102.93 and last traded at $101.97, with a volume of 55636 shares. The stock had previously closed at $100.12.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Citigroup upped their target price on shares of Xometry from $65.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Cantor Fitzgerald raised shares of Xometry from a “neutral” rating to an “overweight” rating and set a $62.00 price target on the stock in a research note on Thursday, April 30th. Wedbush initiated coverage on shares of Xometry in a report on Thursday, July 16th. They issued an “outperform” rating and a $126.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Xometry in a research report on Friday, May 29th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $78.00 target price on shares of Xometry in a research note on Friday, May 8th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $84.25.

Xometry Price Performance

The stock has a market capitalization of $5.10 billion, a P/E ratio of -96.51 and a beta of 1.27. The company has a 50 day moving average of $91.37 and a 200-day moving average of $66.51. The company has a quick ratio of 1.76, a current ratio of 1.78 and a debt-to-equity ratio of 0.86.

Xometry (NASDAQ:XMTR) last posted its earnings results on Thursday, May 7th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.07 by $0.05. The company had revenue of $205.14 million during the quarter, compared to analyst estimates of $188.46 million. Xometry had a negative return on equity of 4.37% and a negative net margin of 7.01%.The business’s revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) earnings per share. Sell-side analysts predict that Xometry, Inc. will post 0.17 EPS for the current year.

Insider Buying and Selling

In other Xometry news, CTO Vaidyanathan Raghavan sold 1,866 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $93.21, for a total value of $173,929.86. Following the sale, the chief technology officer directly owned 140,777 shares in the company, valued at approximately $13,121,824.17. The trade was a 1.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lukas Alexander Biewald bought 47,058 shares of Xometry stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average price of $85.00 per share, with a total value of $3,999,930.00. Following the acquisition, the director directly owned 55,134 shares of the company’s stock, valued at approximately $4,686,390. This represents a 582.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have sold 80,496 shares of company stock worth $7,124,340. 9.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xometry

Several large investors have recently made changes to their positions in XMTR. Stephens Investment Management Group LLC boosted its position in Xometry by 115.2% during the fourth quarter. Stephens Investment Management Group LLC now owns 842,987 shares of the company’s stock worth $50,132,000 after purchasing an additional 451,259 shares during the period. Comerica Bank raised its position in shares of Xometry by 2,427.4% in the fourth quarter. Comerica Bank now owns 28,812 shares of the company’s stock valued at $1,713,000 after purchasing an additional 27,672 shares during the period. Peregrine Investment Management Inc. raised its position in shares of Xometry by 98.9% in the first quarter. Peregrine Investment Management Inc. now owns 215,100 shares of the company’s stock valued at $8,785,000 after purchasing an additional 106,970 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Xometry by 18.6% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 156,604 shares of the company’s stock worth $9,313,000 after buying an additional 24,566 shares during the last quarter. Finally, Penn Capital Management Company LLC acquired a new stake in shares of Xometry during the 4th quarter worth about $1,899,000. Institutional investors own 97.31% of the company’s stock.

About Xometry

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.