Xometry (NASDAQ:XMTR) Price Target Raised to $27.00

Xometry (NASDAQ:XMTR) had its target price increased by analysts at Royal Bank of Canada from $23.00 to $27.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential downside of 6.90% from the stock’s current price.

XMTR has been the subject of several other research reports. JMP Securities lifted their price objective on shares of Xometry from $27.00 to $32.00 and gave the stock a “market outperform” rating in a research note on Friday, October 18th. Craig Hallum lifted their price objective on shares of Xometry from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Cantor Fitzgerald reissued an “underweight” rating and issued a $12.00 target price on shares of Xometry in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $24.86.

Xometry Stock Performance

Shares of NASDAQ XMTR traded up $3.16 during mid-day trading on Wednesday, reaching $29.00. 663,154 shares of the company were exchanged, compared to its average volume of 599,134. The company’s 50-day simple moving average is $19.14 and its 200-day simple moving average is $16.55. The company has a quick ratio of 4.60, a current ratio of 4.64 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $1.43 billion, a P/E ratio of -26.61 and a beta of 0.55. Xometry has a twelve month low of $11.08 and a twelve month high of $38.74.

Xometry (NASDAQ:XMTR) last posted its earnings results on Tuesday, November 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. Xometry had a negative net margin of 10.53% and a negative return on equity of 10.75%. The company had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $137.17 million. As a group, research analysts predict that Xometry will post -0.81 earnings per share for the current year.

Insider Activity at Xometry

In related news, CTO Matthew Leibel sold 3,400 shares of Xometry stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $18.45, for a total transaction of $62,730.00. Following the sale, the chief technology officer now directly owns 82,918 shares of the company’s stock, valued at approximately $1,529,837.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Xometry

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP bought a new stake in shares of Xometry during the 3rd quarter valued at approximately $1,069,000. Versor Investments LP bought a new stake in Xometry during the 3rd quarter worth approximately $411,000. ARK Investment Management LLC grew its holdings in Xometry by 7.2% during the 3rd quarter. ARK Investment Management LLC now owns 284,134 shares of the company’s stock worth $5,220,000 after acquiring an additional 19,197 shares during the last quarter. US Bancorp DE grew its holdings in Xometry by 57.7% during the 3rd quarter. US Bancorp DE now owns 5,570 shares of the company’s stock worth $102,000 after acquiring an additional 2,037 shares during the last quarter. Finally, Palumbo Wealth Management LLC bought a new stake in Xometry during the 3rd quarter worth approximately $191,000. 97.31% of the stock is owned by institutional investors.

Xometry Company Profile

Xometry, Inc operates an online marketplace that enables buyers to source custom-manufactured parts and assemblies in the United States and internationally. It provides computer numerical control manufacturing, sheet metal forming, and sheet cutting; 3D printing, including fused deposition modeling, direct metal laser sintering, PolyJet, stereolithography, selective laser sintering, binder jetting, carbon digital light synthesis, multi jet fusion, and lubricant sublayer photo-curing; and die casting, stamping, injection molding, urethane casting, tube cutting, and tube bending, as well as finishing services, rapid prototyping, and high-volume production services.