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

Xometry (NASDAQ:XMTR) had its price target raised by stock analysts at Royal Bank of Canada from $23.00 to $27.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target points to a potential downside of 6.90% from the stock’s current price.

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

Xometry Stock Up 12.2 %

Shares of Xometry stock traded up $3.16 during trading on Wednesday, reaching $29.00. 663,154 shares of the company traded hands, compared to its average volume of 599,134. The firm has a market capitalization of $1.43 billion, a PE ratio of -26.61 and a beta of 0.55. The company has a 50 day moving average price of $19.14 and a 200-day moving average price of $16.55. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.64 and a quick ratio of 4.60. Xometry has a 1-year low of $11.08 and a 1-year high of $38.74.

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

Insider Buying and Selling at Xometry

In other Xometry news, CTO Matthew Leibel sold 3,400 shares of the company’s stock in a transaction dated 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 $1,529,837.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 16.79% of the company’s stock.

Institutional Investors Weigh In On Xometry

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

About Xometry

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.