JMP Securities Raises Xometry (NASDAQ:XMTR) Price Target to $42.00

Xometry (NASDAQ:XMTR) had its price objective upped by investment analysts at JMP Securities from $34.00 to $42.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price objective indicates a potential upside of 44.38% from the company’s current price.

A number of other equities research analysts have also recently commented on XMTR. The Goldman Sachs Group upped 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. Cantor Fitzgerald reiterated an “underweight” rating and issued a $12.00 target price on shares of Xometry in a research note on Wednesday, November 6th. UBS Group boosted their target price on Xometry from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Citigroup increased their price target on Xometry from $25.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Craig Hallum lifted their price objective on shares of Xometry from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $27.71.

Xometry Price Performance

XMTR stock opened at $29.09 on Thursday. The business has a 50 day simple moving average of $20.98 and a 200-day simple moving average of $17.31. The company has a market capitalization of $1.43 billion, a P/E ratio of -27.70 and a beta of 0.55. Xometry has a twelve month low of $11.08 and a twelve month high of $38.74. The company has a current ratio of 4.59, a quick ratio of 4.55 and a debt-to-equity ratio of 0.90.

Insider Activity at Xometry

In other news, CTO Matthew Leibel sold 16,564 shares of Xometry stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $30.08, for a total transaction of $498,245.12. Following the completion of the sale, the chief technology officer now directly owns 77,856 shares in the company, valued at approximately $2,341,908.48. This trade represents a 17.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Peter Goguen sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $29.55, for a total value of $354,600.00. Following the completion of the sale, the chief operating officer now owns 180,419 shares in the company, valued at approximately $5,331,381.45. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,633 shares of company stock worth $1,201,730 over the last three months. 16.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Xometry

A number of large investors have recently added to or reduced their stakes in XMTR. Raymond James & Associates boosted its stake in shares of Xometry by 0.6% during the third quarter. Raymond James & Associates now owns 287,986 shares of the company’s stock valued at $5,290,000 after acquiring an additional 1,586 shares during the last quarter. Sei Investments Co. boosted its position in shares of Xometry by 0.8% in the second quarter. Sei Investments Co. now owns 214,048 shares of the company’s stock worth $2,474,000 after acquiring an additional 1,708 shares during the last quarter. US Bancorp DE grew its stake in shares of Xometry by 57.7% during the 3rd quarter. US Bancorp DE now owns 5,570 shares of the company’s stock valued at $102,000 after buying an additional 2,037 shares during the period. State Board of Administration of Florida Retirement System increased its stake 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 worth $200,000 after acquiring an additional 2,140 shares during the last quarter. Finally, State Street Corp increased its position in Xometry by 0.3% during the 3rd quarter. State Street Corp now owns 887,139 shares of the company’s stock worth $16,297,000 after purchasing an additional 3,027 shares in the last quarter. 97.31% of the stock is owned by institutional investors and hedge funds.

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.