Xometry (NASDAQ:XMTR) Upgraded at Zacks Research

Zacks Research upgraded shares of Xometry (NASDAQ:XMTR) from a strong sell rating to a hold rating in a report issued on Monday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Wedbush lowered their target price on Xometry from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. JPMorgan Chase & Co. upped their price target on shares of Xometry from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. The Goldman Sachs Group boosted their price objective on Xometry from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. UBS Group increased their target price on Xometry from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Finally, Citizens Jmp set a $75.00 price target on Xometry in a report on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.00.

Xometry Stock Up 8.4%

Shares of XMTR opened at $44.72 on Monday. Xometry has a one year low of $18.59 and a one year high of $73.87. The company has a market cap of $2.29 billion, a P/E ratio of -36.66 and a beta of 0.90. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.76 and a quick ratio of 3.72. The firm has a 50 day simple moving average of $59.35 and a two-hundred day simple moving average of $55.98.

Xometry (NASDAQ:XMTR) last issued its earnings results on Tuesday, February 24th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Xometry had a negative return on equity of 5.49% and a negative net margin of 8.99%.The firm had revenue of $192.40 million for the quarter, compared to the consensus estimate of $183.37 million. During the same quarter last year, the business posted $0.06 EPS. The company’s revenue was up 29.5% compared to the same quarter last year. Research analysts forecast that Xometry will post -0.66 EPS for the current fiscal year.

Insider Activity

In related news, CEO Randolph Altschuler sold 31,928 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $43.44, for a total value of $1,386,952.32. Following the transaction, the chief executive officer owned 372,377 shares in the company, valued at $16,176,056.88. The trade was a 7.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Sanjeev Singh Sahni sold 26,190 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $65.47, for a total transaction of $1,714,659.30. Following the sale, the president directly owned 63,130 shares in the company, valued at $4,133,121.10. This trade represents a 29.32% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 127,852 shares of company stock worth $6,993,940. 9.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Xometry

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kemnay Advisory Services Inc. bought a new stake in Xometry in the fourth quarter worth approximately $28,000. Quantbot Technologies LP acquired a new stake in shares of Xometry during the 3rd quarter worth approximately $30,000. Westend Capital Management LLC acquired a new position in shares of Xometry during the 3rd quarter valued at $41,000. GAMMA Investing LLC boosted its stake in Xometry by 26.5% during the fourth quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock worth $46,000 after acquiring an additional 162 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in Xometry in the third quarter worth $47,000. Institutional investors 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.