Citigroup Lowers Xometry (NASDAQ:XMTR) Price Target to $39.00

Xometry (NASDAQ:XMTR) had its price objective cut by research analysts at Citigroup from $46.00 to $39.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 40.06% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group boosted their target price on shares of Xometry from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Wedbush restated an “outperform” rating and issued a $48.00 target price on shares of Xometry in a report on Friday, December 20th. JPMorgan Chase & Co. raised shares of Xometry from a “neutral” rating to an “overweight” rating and increased their target price for the company from $25.00 to $45.00 in a research report on Wednesday, December 18th. Cantor Fitzgerald increased their target price on shares of Xometry from $12.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, UBS Group raised their price objective on shares of Xometry from $22.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Xometry presently has an average rating of “Moderate Buy” and an average target price of $36.11.

Xometry Trading Up 3.1 %

Shares of Xometry stock traded up $0.83 during trading on Thursday, hitting $27.85. The company’s stock had a trading volume of 413,620 shares, compared to its average volume of 660,486. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.59 and a quick ratio of 4.55. Xometry has a 52 week low of $11.08 and a 52 week high of $45.33. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -26.44 and a beta of 0.65. The stock has a 50-day moving average price of $36.61 and a two-hundred day moving average price of $28.01.

Insider Activity at Xometry

In other news, COO Peter Goguen sold 986 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $40.08, for a total value of $39,518.88. Following the transaction, the chief operating officer now owns 168,933 shares of the company’s stock, valued at approximately $6,770,834.64. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Miln sold 5,386 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $42.33, for a total transaction of $227,989.38. Following the sale, the chief financial officer now directly owns 102,329 shares in the company, valued at approximately $4,331,586.57. The trade was a 5.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,312 shares of company stock worth $517,537. 16.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in XMTR. Summit Investment Advisors Inc. grew its holdings in Xometry by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,447 shares of the company’s stock worth $190,000 after acquiring an additional 333 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of Xometry in the 4th quarter valued at approximately $27,000. State of Wyoming raised its position in shares of Xometry by 8.2% in the 4th quarter. State of Wyoming now owns 8,876 shares of the company’s stock valued at $379,000 after purchasing an additional 676 shares during the last quarter. Comerica Bank raised its position in Xometry by 195.1% during the 4th quarter. Comerica Bank now owns 1,133 shares of the company’s stock worth $48,000 after buying an additional 749 shares during the last quarter. Finally, Arizona State Retirement System raised its position in Xometry by 7.9% during the 4th quarter. Arizona State Retirement System now owns 12,180 shares of the company’s stock worth $520,000 after buying an additional 891 shares during the last quarter. 97.31% of the stock is currently 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.