Xometry, Inc. (NASDAQ:XMTR – Get Free Report)’s share price rose 6.2% during trading on Wednesday . The stock traded as high as $92.00 and last traded at $93.00. Approximately 239,423 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 878,804 shares. The stock had previously closed at $87.58.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Royal Bank Of Canada lifted their price objective on Xometry from $85.00 to $100.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Cantor Fitzgerald upped their target price on Xometry from $85.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group raised their target price on Xometry from $78.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Citigroup lifted their price target on shares of Xometry from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Wedbush started coverage on shares of Xometry in a report on Thursday, July 16th. They issued an “outperform” rating and a $126.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $108.33.
View Our Latest Analysis on XMTR
Xometry Stock Performance
Xometry (NASDAQ:XMTR – Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $229.28 million during the quarter, compared to the consensus estimate 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 quarter last year, the company earned $0.09 EPS. On average, research analysts expect that Xometry, Inc. will post -0.01 earnings per share for the current fiscal year.
Insider Activity at Xometry
In other news, CTO Vaidyanathan Raghavan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $96.77, for a total value of $483,850.00. Following the transaction, the chief technology officer directly owned 135,777 shares of the company’s stock, valued at $13,139,140.29. The trade was a 3.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Katharine Weymouth sold 5,000 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $95.23, for a total value of $476,150.00. Following the sale, the director owned 35,345 shares in the company, valued at $3,365,904.35. The trade was a 12.39% decrease in their position. The disclosure for this sale is available in the SEC filing. 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.
Hedge Funds Weigh In On Xometry
Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of Xometry by 26.9% during the 2nd quarter. Wellington Management Group LLP now owns 1,322,581 shares of the company’s stock valued at $127,656,000 after acquiring an additional 280,491 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Xometry by 243.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 694,390 shares of the company’s stock worth $29,015,000 after purchasing an additional 492,285 shares during the period. Sylebra Capital LLC increased its holdings in Xometry by 31.3% in the first quarter. Sylebra Capital LLC now owns 535,624 shares of the company’s stock valued at $21,875,000 after purchasing an additional 127,637 shares during the last quarter. Sei Investments Co. lifted its stake in Xometry by 45.6% in the first quarter. Sei Investments Co. now owns 274,641 shares of the company’s stock valued at $11,216,000 after buying an additional 85,989 shares during the period. Finally, Bank of America Corp DE lifted its stake in Xometry by 23.7% in the first quarter. Bank of America Corp DE now owns 235,414 shares of the company’s stock valued at $9,614,000 after buying an additional 45,158 shares during the period. 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.
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