Citigroup Forecasts Strong Price Appreciation for Xometry (NASDAQ:XMTR) Stock

Xometry (NASDAQ:XMTR) had its price objective raised by equities research analysts at Citigroup from $25.00 to $33.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 7.84% from the company’s previous close.

Several other research firms have also issued reports on XMTR. The Goldman Sachs Group boosted their price target on shares of Xometry from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada boosted their target price on shares of Xometry from $23.00 to $27.00 and gave the company a “sector perform” rating in a report on Wednesday. JMP Securities raised their price target on Xometry from $27.00 to $32.00 and gave the stock a “market outperform” rating in a report on Friday, October 18th. Cantor Fitzgerald reiterated an “underweight” rating and set a $12.00 price objective on shares of Xometry in a research note on Wednesday. Finally, Craig Hallum increased their price objective on Xometry from $20.00 to $30.00 and gave the stock a “buy” rating 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 issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $26.29.

Xometry Stock Performance

Shares of XMTR opened at $30.60 on Wednesday. Xometry has a 1 year low of $11.08 and a 1 year 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 fifty day moving average price is $19.35 and its two-hundred day moving average price is $16.65. The firm has a market cap of $1.51 billion, a PE ratio of -28.39 and a beta of 0.55.

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

Insider Buying and Selling

In related news, CTO Matthew Leibel sold 3,400 shares of the business’s stock in a transaction dated 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 transaction, the chief technology officer now directly owns 82,918 shares in the company, valued at $1,529,837.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Xometry

Several hedge funds have recently bought and sold shares of XMTR. Raymond James & Associates raised its position in shares of Xometry by 0.6% during the 3rd quarter. Raymond James & Associates now owns 287,986 shares of the company’s stock valued at $5,290,000 after buying an additional 1,586 shares in the last quarter. Sei Investments Co. increased its stake in Xometry by 0.8% in the second quarter. Sei Investments Co. now owns 214,048 shares of the company’s stock valued at $2,474,000 after acquiring an additional 1,708 shares during the last quarter. US Bancorp DE increased its stake in Xometry by 57.7% in the third quarter. US Bancorp DE now owns 5,570 shares of the company’s stock valued at $102,000 after acquiring an additional 2,037 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Xometry by 22.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,840 shares of the company’s stock valued at $200,000 after purchasing an additional 2,140 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in Xometry during the second quarter worth about $38,000. 97.31% of the stock is currently owned by 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.