Xometry (NASDAQ:XMTR) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Xometry (NASDAQ:XMTR) had its price objective raised by equities research analysts at Royal Bank of Canada from $23.00 to $27.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential downside of 11.76% from the stock’s current price.

A number of other equities analysts also recently weighed in on XMTR. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $12.00 price target on shares of Xometry in a research note on Wednesday. JMP Securities upped their target price on Xometry from $27.00 to $32.00 and gave the stock a “market outperform” rating in a research report on Friday, October 18th. Finally, Craig Hallum lifted their price target on Xometry from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Xometry has a consensus rating of “Hold” and an average target price of $26.29.

Xometry Trading Down 0.1 %

NASDAQ:XMTR opened at $30.60 on Wednesday. The stock has a market cap of $1.51 billion, a PE ratio of -28.39 and a beta of 0.55. Xometry has a fifty-two week low of $11.08 and a fifty-two week high of $38.74. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.64 and a quick ratio of 4.60. The stock’s 50-day moving average is $19.35 and its two-hundred day moving average is $16.65.

Xometry (NASDAQ:XMTR) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.13. The firm had revenue of $132.60 million for the quarter, compared to the consensus estimate of $128.65 million. Xometry had a negative net margin of 10.53% and a negative return on equity of 10.75%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.55) earnings per share. As a group, equities research analysts forecast that Xometry will post -0.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Xometry

In related news, CTO Matthew Leibel sold 3,400 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $18.45, for a total value of $62,730.00. Following the transaction, the chief technology officer now directly owns 82,918 shares of the company’s stock, valued at approximately $1,529,837.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.79% of the company’s stock.

Hedge Funds Weigh In On Xometry

Institutional investors have recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in Xometry in the 2nd quarter valued at approximately $38,000. ProShare Advisors LLC bought a new stake in shares of Xometry in the second quarter valued at approximately $53,000. Point72 Asset Management L.P. acquired a new stake in shares of Xometry in the second quarter worth $55,000. US Bancorp DE grew its stake 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 acquiring an additional 2,037 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Xometry during the second quarter worth $129,000. Institutional investors own 97.31% of the company’s stock.

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.