Xometry’s (XMTR) Outperform Rating Reiterated at Wedbush

Xometry (NASDAQ:XMTR)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $126.00 target price on the stock. Wedbush’s price target indicates a potential upside of 27.69% from the company’s previous close.

XMTR has been the subject of a number of other reports. Royal Bank Of Canada upped their price target on Xometry from $55.00 to $85.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Cantor Fitzgerald upgraded shares of Xometry from a “neutral” rating to an “overweight” rating and set a $62.00 price objective for the company in a research report on Thursday, April 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $78.00 target price on shares of Xometry in a research report on Friday, May 8th. Citizens Jmp lifted their price target on shares of Xometry from $75.00 to $100.00 and gave the stock a “market outperform” rating in a research note on Friday, May 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Xometry in a research note on Friday, May 29th. Six equities research 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.25.

Xometry Trading Up 1.6%

Shares of NASDAQ:XMTR opened at $98.68 on Thursday. Xometry has a 52 week low of $30.63 and a 52 week high of $99.88. The company’s 50 day moving average is $89.59 and its two-hundred day moving average is $65.17. The company has a market cap of $5.11 billion, a PE ratio of -96.75 and a beta of 1.27. The company has a current ratio of 1.78, a quick ratio of 1.76 and a debt-to-equity ratio of 0.86.

Xometry (NASDAQ:XMTR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. The company had revenue of $205.14 million for the quarter, compared to analysts’ expectations of $188.46 million. Xometry had a negative return on equity of 4.37% and a negative net margin of 7.01%.Xometry’s quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the firm earned ($0.05) earnings per share. Equities analysts predict that Xometry will post -0.06 earnings per share for the current fiscal year.

Insider Activity

In other Xometry news, CEO Randolph Altschuler sold 50,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $87.85, for a total value of $4,392,500.00. Following the completion of the transaction, the chief executive officer directly owned 455,248 shares of the company’s stock, valued at approximately $39,993,536.80. This trade represents a 9.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Vaidyanathan Raghavan sold 1,866 shares of Xometry stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $93.21, for a total transaction of $173,929.86. Following the transaction, the chief technology officer owned 140,777 shares of the company’s stock, valued at approximately $13,121,824.17. The trade was a 1.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 80,496 shares of company stock valued at $7,124,340 over the last ninety days. 9.10% of the stock is currently owned by company insiders.

Institutional Trading of Xometry

A number of institutional investors have recently modified their holdings of XMTR. CoreCap Advisors LLC acquired a new stake in Xometry in the second quarter valued at approximately $97,000. PVG Asset Management Corp acquired a new position in shares of Xometry in the 1st quarter valued at approximately $703,000. Bank of America Corp DE increased its stake in shares of Xometry by 23.7% in the first quarter. Bank of America Corp DE now owns 235,414 shares of the company’s stock worth $9,614,000 after buying an additional 45,158 shares during the last quarter. Sylebra Capital LLC lifted its position in shares of Xometry by 31.3% during 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. Finally, California State Teachers Retirement System raised its holdings in shares of Xometry by 21.8% during the first quarter. California State Teachers Retirement System now owns 51,770 shares of the company’s stock worth $2,114,000 after purchasing an additional 9,283 shares during the period. Hedge funds and other institutional investors own 97.31% of the company’s stock.

Xometry Company Profile

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.