BNP Paribas Exane began coverage on shares of Xometry (NASDAQ:XMTR – Free Report) in a research report report published on Friday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $120.00 target price on the stock.
Several other brokerages also recently commented on XMTR. UBS Group lifted their target price on shares of Xometry from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Royal Bank Of Canada upped their price target on shares of Xometry from $85.00 to $100.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. Cantor Fitzgerald raised their price target on Xometry from $85.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Wedbush initiated coverage on Xometry in a research note on Thursday, July 16th. They issued an “outperform” rating and a $126.00 price objective on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Xometry in a research note on Monday, August 24th. They issued an “overweight” rating and a $120.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $109.50.
View Our Latest Research Report on XMTR
Xometry Price Performance
Xometry (NASDAQ:XMTR – Get Free Report) last released its quarterly 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 company had revenue of $229.28 million for the quarter, compared to analyst estimates of $215.22 million. Xometry had a negative net margin of 3.82% and a negative return on equity of 2.88%. The company’s quarterly revenue was up 41.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share. Equities analysts expect that Xometry will post -0.01 earnings per share for the current year.
Insider Activity
In other Xometry news, CTO Vaidyanathan Raghavan sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $96.77, for a total value of $483,850.00. Following the sale, the chief technology officer directly owned 135,777 shares in the company, valued at $13,139,140.29. This trade represents a 3.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Randolph Altschuler sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $90.82, for a total transaction of $908,200.00. Following the transaction, the director owned 551,270 shares in the company, valued at approximately $50,066,341.40. The trade was a 1.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 57,053 shares of company stock worth $5,244,213. Corporate insiders own 9.10% of the company’s stock.
Institutional Investors Weigh In On Xometry
Institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new position in Xometry during the second quarter valued at about $247,000. IPG Investment Advisors LLC bought a new stake in shares of Xometry in the 2nd quarter worth approximately $241,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Xometry during the 2nd quarter worth approximately $36,000. Nykredit A S acquired a new stake in shares of Xometry during the 2nd quarter worth approximately $103,000. Finally, Corient Private Wealth LP increased its position in shares of Xometry by 1.6% during the second quarter. Corient Private Wealth LP now owns 23,196 shares of the company’s stock valued at $2,239,000 after purchasing an additional 360 shares during the period. 97.31% of the stock is owned by institutional investors and hedge funds.
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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