Xometry (NASDAQ:XMTR) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Xometry (NASDAQ:XMTR) had its price target raised by equities research analysts at The Goldman Sachs Group from $24.00 to $28.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential downside of 8.50% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada raised their target price on shares of Xometry from $23.00 to $27.00 and gave the company a “sector perform” rating in a research note on Wednesday. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $12.00 price objective on shares of Xometry in a research report on Wednesday. JMP Securities lifted their target price on Xometry from $27.00 to $32.00 and gave the stock a “market outperform” rating in a research note on Friday, October 18th. Finally, Craig Hallum increased their price target on Xometry from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Xometry currently has a consensus rating of “Hold” and an average target price of $26.29.

Xometry Price Performance

NASDAQ:XMTR opened at $30.60 on Wednesday. The stock has a market capitalization of $1.51 billion, a PE ratio of -28.39 and a beta of 0.55. Xometry has a 1-year low of $11.08 and a 1-year high of $38.74. The firm has a fifty day simple moving average of $19.35 and a 200 day simple moving average of $16.65. The company has a current ratio of 4.64, a quick ratio of 4.60 and a debt-to-equity ratio of 0.89.

Xometry (NASDAQ:XMTR) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $128.65 million. Xometry had a negative net margin of 10.53% and a negative return on equity of 10.75%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.55) earnings per share. On average, research analysts expect that Xometry will post -0.81 EPS for the current fiscal year.

Insider Activity at Xometry

In other news, CTO Matthew Leibel sold 3,400 shares of Xometry stock in a transaction on Friday, September 13th. The stock was sold at an average price of $18.45, for a total transaction of $62,730.00. Following the completion of the sale, the chief technology officer now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Xometry

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System grew its position in shares of Xometry by 22.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,840 shares of the company’s stock worth $200,000 after purchasing an additional 2,140 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Xometry by 2.0% in the first quarter. Vanguard Group Inc. now owns 3,877,346 shares of the company’s stock valued at $65,488,000 after buying an additional 76,976 shares during the period. Texas Capital Bank Wealth Management Services Inc acquired a new stake in Xometry during the first quarter worth approximately $169,000. Clearbridge Investments LLC increased its stake in Xometry by 20.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,270,631 shares of the company’s stock worth $21,461,000 after acquiring an additional 217,939 shares during the period. Finally, Sylebra Capital LLC raised its holdings in Xometry by 1,005.3% in the 1st quarter. Sylebra Capital LLC now owns 644,262 shares of the company’s stock valued at $10,882,000 after acquiring an additional 585,971 shares in the last quarter. Institutional investors and hedge funds 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.