Xometry (NASDAQ:XMTR) Price Target Raised to $98.00 at Citigroup

Xometry (NASDAQ:XMTR) had its price target boosted by Citigroup from $65.00 to $98.00 in a research report sent to investors on Tuesday, Marketbeat reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently weighed in on XMTR. The Goldman Sachs Group reissued a “neutral” rating and set a $78.00 price objective on shares of Xometry in a research note on Friday. Zacks Research raised Xometry from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Royal Bank Of Canada boosted their price objective on Xometry from $55.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Friday. Citizens Jmp boosted their price objective on Xometry from $75.00 to $100.00 and gave the stock a “market outperform” rating in a research note on Friday, May 8th. Finally, Wedbush reduced their price objective on Xometry from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $76.00.

Xometry Price Performance

NASDAQ:XMTR opened at $83.92 on Tuesday. The company has a current ratio of 1.78, a quick ratio of 1.76 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $4.35 billion, a P/E ratio of -82.27 and a beta of 1.01. Xometry has a 12 month low of $29.60 and a 12 month high of $84.08. The business’s 50-day moving average is $46.47 and its 200 day moving average is $54.80.

Xometry (NASDAQ:XMTR) last posted its earnings results on Thursday, May 7th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. Xometry had a negative return on equity of 4.37% and a negative net margin of 7.01%.The company had revenue of $205.14 million for the quarter, compared to the consensus estimate of $188.46 million. During the same period in the previous year, the business earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 35.9% on a year-over-year basis. On average, equities research analysts forecast that Xometry will post -0.27 earnings per share for the current fiscal year.

Insider Activity

In other news, President Sanjeev Singh Sahni sold 9,978 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $43.45, for a total transaction of $433,544.10. Following the transaction, the president owned 113,022 shares of the company’s stock, valued at approximately $4,910,805.90. This represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Vaidyanathan Raghavan sold 4,572 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $43.44, for a total value of $198,607.68. Following the transaction, the chief technology officer directly owned 64,304 shares in the company, valued at approximately $2,793,365.76. This represents a 6.64% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 64,991 shares of company stock valued at $2,822,263. 9.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Peregrine Investment Management Inc. acquired a new stake in shares of Xometry during the 3rd quarter valued at about $4,358,000. First Trust Advisors LP grew its position in shares of Xometry by 12.8% during the 3rd quarter. First Trust Advisors LP now owns 1,443,283 shares of the company’s stock valued at $78,616,000 after acquiring an additional 164,278 shares during the period. Blair William & Co. IL grew its position in shares of Xometry by 22.1% during the 3rd quarter. Blair William & Co. IL now owns 324,565 shares of the company’s stock valued at $17,679,000 after acquiring an additional 58,707 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Xometry by 246.4% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 132,038 shares of the company’s stock valued at $7,192,000 after acquiring an additional 93,917 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Xometry during the 3rd quarter valued at about $2,623,000. Institutional investors own 97.31% of the company’s stock.

Xometry Company Profile

Xometry, Inc (NASDAQ: XMTR) operates a technology-driven marketplace that connects businesses with on-demand manufacturing capacity across a wide array of processes. Through its proprietary Instant Quoting Engine and Xometry Platform, the company streamlines sourcing for CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other custom manufacturing services. By aggregating a network of thousands of vetted suppliers, Xometry offers rapid lead times, transparent pricing and real-time order tracking to customers in sectors ranging from automotive and aerospace to medical devices and industrial equipment.

Since its founding in 2013 and headquarters in Rockville, Maryland, Xometry has expanded its geographic reach to serve customers in North America, Europe and beyond.