Wedbush began coverage on shares of Xometry (NASDAQ:XMTR – Free Report) in a report published on Thursday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $126.00 target price on the stock.
Other equities research analysts also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Xometry in a research report on Friday, May 29th. Royal Bank Of Canada upped their price objective on Xometry from $55.00 to $85.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. The Goldman Sachs Group reiterated a “neutral” rating and set a $78.00 target price on shares of Xometry in a research note on Friday, May 8th. Citigroup lifted their target price on Xometry from $65.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Cantor Fitzgerald upgraded Xometry from a “neutral” rating to an “overweight” rating and set a $62.00 price target for the company in a research note on Thursday, April 30th. Six 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.25.
Read Our Latest Analysis on XMTR
Xometry Stock Performance
Xometry (NASDAQ:XMTR – Get Free Report) last released its quarterly earnings data 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 business had revenue of $205.14 million during the quarter, compared to analyst estimates of $188.46 million. Xometry had a negative net margin of 7.01% and a negative return on equity of 4.37%. Xometry’s revenue was up 35.9% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS. Sell-side analysts anticipate that Xometry will post -0.06 EPS for the current fiscal year.
Insider Activity
In other Xometry news, insider Subir Dutt sold 5,000 shares of Xometry stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $79.86, for a total value of $399,300.00. Following the completion of the sale, the insider owned 104,732 shares of the company’s stock, valued at approximately $8,363,897.52. The trade was a 4.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lukas Alexander Biewald bought 47,058 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were bought at an average price of $85.00 per share, with a total value of $3,999,930.00. Following the completion of the purchase, the director owned 55,134 shares in the company, valued at approximately $4,686,390. The trade was a 582.69% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 80,496 shares of company stock valued at $7,124,340 over the last three months. Corporate insiders own 9.10% of the company’s stock.
Institutional Investors Weigh In On Xometry
Large investors have recently made changes to their positions in the company. Stephens Investment Management Group LLC raised its stake in shares of Xometry by 115.2% in the fourth quarter. Stephens Investment Management Group LLC now owns 842,987 shares of the company’s stock worth $50,132,000 after buying an additional 451,259 shares during the period. Comerica Bank grew its stake in shares of Xometry by 2,427.4% during the 4th quarter. Comerica Bank now owns 28,812 shares of the company’s stock valued at $1,713,000 after acquiring an additional 27,672 shares during the period. Polar Asset Management Partners Inc. bought a new position in shares of Xometry during the 3rd quarter valued at approximately $2,623,000. Peregrine Investment Management Inc. increased its holdings in Xometry by 98.9% in the 1st quarter. Peregrine Investment Management Inc. now owns 215,100 shares of the company’s stock worth $8,785,000 after acquiring an additional 106,970 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Xometry by 18.6% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 156,604 shares of the company’s stock worth $9,313,000 after acquiring an additional 24,566 shares in the last quarter. 97.31% of the stock is currently owned by institutional investors.
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.
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