Xometry (NASDAQ:XMTR – Get Free Report) was upgraded by equities researchers at Rosenblatt Securities to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.
Other analysts have also recently issued reports about the company. Wedbush began coverage on Xometry in a research report on Thursday, July 16th. They issued an “outperform” rating and a $126.00 price target on the stock. Citigroup upped their target price on shares of Xometry from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Cantor Fitzgerald increased their target price on shares of Xometry from $85.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group lifted their price target on shares of Xometry from $78.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada boosted their price target on shares of Xometry from $85.00 to $100.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $102.78.
Check Out Our Latest Stock Report on Xometry
Xometry Stock Performance
Xometry (NASDAQ:XMTR – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $229.28 million for 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%.The company’s quarterly revenue was up 41.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. Research analysts anticipate that Xometry will post -0.02 earnings per share for the current fiscal year.
Insider Activity at Xometry
In other news, insider Subir Dutt sold 1,073 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $93.39, for a total value of $100,207.47. Following the completion of the sale, the insider directly owned 93,716 shares in the company, valued at approximately $8,752,137.24. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Vaidyanathan Raghavan sold 1,866 shares of Xometry stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $93.21, for a total value of $173,929.86. Following the completion of the transaction, the chief technology officer directly owned 140,777 shares of the company’s stock, valued at $13,121,824.17. This represents a 1.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 29,553 shares of company stock valued at $2,737,968. 9.10% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Xometry
A number of large investors have recently modified their holdings of the stock. Kemnay Advisory Services Inc. acquired a new stake in shares of Xometry in the fourth quarter valued at approximately $28,000. Quantbot Technologies LP acquired a new position in Xometry during the 3rd quarter worth $30,000. Leonteq Securities AG acquired a new position in Xometry during the 4th quarter worth $59,000. CoreCap Advisors LLC bought a new position in Xometry in the 2nd quarter valued at $97,000. Finally, Comerica Bank boosted its position in Xometry by 17.9% in the 3rd quarter. Comerica Bank now owns 1,140 shares of the company’s stock valued at $62,000 after buying an additional 173 shares during the last quarter. 97.31% of the stock is currently owned by institutional investors and hedge funds.
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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