Xometry (NASDAQ:XMTR) Given New $120.00 Price Target at Rosenblatt Securities

Xometry (NASDAQ:XMTR) had its target price raised by analysts at Rosenblatt Securities from $110.00 to $120.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 20.57% from the company’s previous close.

A number of other equities analysts have also recently issued reports on XMTR. Cantor Fitzgerald increased their price objective on shares of Xometry from $85.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. UBS Group lifted their target price on shares of Xometry from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Citizens Jmp reissued a “market outperform” rating and issued a $120.00 target price on shares of Xometry in a research note on Monday. Royal Bank Of Canada increased their price target on shares of Xometry from $85.00 to $100.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. Finally, BNP Paribas Exane started coverage on shares of Xometry in a research note on Friday. They set an “outperform” rating and a $120.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $112.50.

Xometry Stock Performance

XMTR opened at $99.53 on Tuesday. The stock has a market cap of $5.16 billion, a PE ratio of -165.88 and a beta of 1.32. The company has a current ratio of 3.21, a quick ratio of 3.20 and a debt-to-equity ratio of 0.41. Xometry has a 1 year low of $35.86 and a 1 year high of $106.08. The stock’s 50 day simple moving average is $90.86 and its 200-day simple moving average is $75.66.

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

Insider Activity at Xometry

In related news, CTO Vaidyanathan Raghavan sold 5,000 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $96.77, for a total transaction of $483,850.00. Following the completion of the sale, the chief technology officer owned 135,777 shares in the company, valued at $13,139,140.29. This trade represents a 3.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Katharine Weymouth sold 5,000 shares of Xometry stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $95.23, for a total transaction of $476,150.00. Following the transaction, the director directly owned 35,345 shares of the company’s stock, valued at $3,365,904.35. This represents a 12.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 57,053 shares of company stock valued at $5,244,213. Insiders own 9.10% of the company’s stock.

Institutional Trading of Xometry

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in shares of Xometry by 26.9% during the second quarter. Wellington Management Group LLP now owns 1,322,581 shares of the company’s stock worth $127,656,000 after buying an additional 280,491 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Xometry by 243.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 694,390 shares of the company’s stock worth $29,015,000 after acquiring an additional 492,285 shares in the last quarter. Sylebra Capital LLC boosted its holdings in shares of Xometry by 31.3% in the 1st quarter. Sylebra Capital LLC now owns 535,624 shares of the company’s stock worth $21,875,000 after acquiring an additional 127,637 shares in the last quarter. Sei Investments Co. grew its position in Xometry by 45.6% during the 1st quarter. Sei Investments Co. now owns 274,641 shares of the company’s stock worth $11,216,000 after acquiring an additional 85,989 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Xometry by 23.7% during the 1st quarter. Bank of America Corp DE now owns 235,414 shares of the company’s stock worth $9,614,000 after acquiring an additional 45,158 shares during the last quarter. Institutional investors and hedge funds own 97.31% of the company’s stock.

Xometry Company Profile

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.