Wedbush Initiates Coverage on Xometry (NASDAQ:XMTR)

Research analysts at Wedbush initiated coverage on shares of Xometry (NASDAQ:XMTR) in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $126.00 price target on the stock. Wedbush’s price objective suggests a potential upside of 27.87% from the company’s current price.

Several other research firms have also issued reports on XMTR. Cantor Fitzgerald raised shares of Xometry from a “neutral” rating to an “overweight” rating and set a $62.00 price objective for the company in a research report on Thursday, April 30th. Citigroup upped their price target on shares of Xometry from $65.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $78.00 price target on shares of Xometry in a report on Friday, May 8th. Royal Bank Of Canada raised their price objective on Xometry from $55.00 to $85.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Finally, 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. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $84.25.

Xometry Stock Up 2.2%

Shares of NASDAQ:XMTR opened at $98.54 on Thursday. The stock has a 50-day simple moving average of $90.32 and a 200-day simple moving average of $65.64. The stock has a market capitalization of $5.11 billion, a P/E ratio of -96.61 and a beta of 1.27. Xometry has a 1 year low of $30.63 and a 1 year high of $102.00. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.76 and a current ratio of 1.78.

Xometry (NASDAQ:XMTR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.07 by $0.05. The firm had revenue of $205.14 million for the quarter, compared to analyst estimates of $188.46 million. Xometry had a negative net margin of 7.01% and a negative return on equity of 4.37%. Xometry’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. Equities analysts forecast that Xometry will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Lukas Alexander Biewald acquired 47,058 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were purchased at an average price of $85.00 per share, for a total transaction of $3,999,930.00. Following the acquisition, the director directly owned 55,134 shares of the company’s stock, valued at $4,686,390. This represents a 582.69% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Subir Dutt sold 5,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $79.86, for a total transaction of $399,300.00. Following the completion of the transaction, the insider directly owned 104,732 shares of the company’s stock, valued at approximately $8,363,897.52. The trade was a 4.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 80,496 shares of company stock valued at $7,124,340. Corporate insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Kemnay Advisory Services Inc. acquired a new stake in Xometry during the 4th quarter valued at approximately $28,000. Quantbot Technologies LP acquired a new position in shares of Xometry in the 3rd quarter valued at approximately $30,000. GAMMA Investing LLC raised its position in shares of Xometry by 26.5% in the 4th quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock valued at $46,000 after purchasing an additional 162 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of Xometry during the 4th quarter valued at approximately $59,000. Finally, Comerica Bank boosted its stake in shares of Xometry by 17.9% during the 3rd quarter. Comerica Bank now owns 1,140 shares of the company’s stock valued at $62,000 after buying an additional 173 shares during the last quarter. Institutional investors and hedge funds own 97.31% of the company’s stock.

About Xometry

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.