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

Xometry, Inc. (NASDAQ:XMTR) shares reached a new 52-week high during trading on Monday. The stock traded as high as $108.55 and last traded at $107.5540, with a volume of 573893 shares traded. The stock had previously closed at $102.53.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on XMTR shares. Raymond James Financial set a $120.00 price objective on Xometry in a research note on Tuesday, September 22nd. The Goldman Sachs Group lifted their target price on shares of Xometry from $78.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Rosenblatt Securities lifted their target price on shares of Xometry from $110.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, September 22nd. Wedbush initiated coverage on shares of Xometry in a research note on Thursday, July 16th. They set an “outperform” rating and a $126.00 price target for the company. 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, September 21st. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.18.

Xometry Trading Up 5.0%

The company has a 50 day simple moving average of $92.03 and a 200 day simple moving average of $79.57. 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 stock has a market capitalization of $5.58 billion, a PE ratio of -179.50 and a beta of 1.23.

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

Insider Activity

In other Xometry news, CEO Sanjeev Sahni sold 1,112 shares of the business’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $103.28, for a total value of $114,847.36. Following the transaction, the chief executive officer directly owned 179,791 shares of the company’s stock, valued at approximately $18,568,814.48. The trade was a 0.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Emily Rollins sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $84.31, for a total transaction of $421,550.00. Following the transaction, the director owned 15,136 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders sold 63,199 shares of company stock valued at $6,006,535. 9.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in XMTR. Tidal Investments LLC purchased a new position in Xometry during the second quarter worth about $247,000. IPG Investment Advisors LLC purchased a new stake in Xometry in the 2nd quarter valued at approximately $241,000. Integrated Wealth Concepts LLC purchased a new stake in Xometry in the 2nd quarter valued at approximately $36,000. Nykredit A S acquired a new position in Xometry during the 2nd quarter worth approximately $103,000. Finally, Corient Private Wealth LP increased its position in Xometry by 1.6% during the 2nd quarter. Corient Private Wealth LP now owns 23,196 shares of the company’s stock worth $2,239,000 after purchasing an additional 360 shares during the period. 97.31% of the stock is currently owned by institutional investors and hedge funds.

About Xometry

Xometry, Inc is a digital manufacturing marketplace that connects businesses with a network of manufacturing suppliers. Its platform uses software and artificial intelligence to help customers obtain quotes, place orders, and manage production for custom parts and components.

The company supports a range of manufacturing processes, including computer numerical control machining, 3D printing, sheet metal fabrication, injection molding, and related services. Xometry serves customers across industries such as aerospace and defense, automotive, industrial machinery, consumer products, and healthcare.

Founded in 2013, Xometry has expanded its marketplace and digital manufacturing services internationally, serving customers and suppliers in North America, Europe, and Asia.