Xometry (NASDAQ:XMTR) Now Covered by Wedbush

Wedbush initiated coverage on shares of Xometry (NASDAQ:XMTR) in a research report report published on Thursday morning, Marketbeat reports. The firm issued an outperform rating and a $126.00 price objective on the stock.

A number of other equities analysts also recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xometry in a research note on Friday, May 29th. The Goldman Sachs Group reissued a “neutral” rating and issued a $78.00 price target on shares of Xometry in a research note on Friday, May 8th. Royal Bank Of Canada upped their price objective on Xometry from $55.00 to $85.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Citigroup increased their price objective on Xometry from $65.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Citizens Jmp raised their target price 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 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. Based on data from MarketBeat, Xometry presently has an average rating of “Hold” and an average price target of $84.25.

Xometry Stock Down 2.3%

XMTR stock opened at $96.42 on Thursday. 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 firm has a 50-day moving average of $89.95 and a two-hundred day moving average of $65.41. Xometry has a 12 month low of $30.63 and a 12 month high of $99.88. The company has a market cap of $5.00 billion, a price-to-earnings ratio of -94.53 and a beta of 1.27.

Xometry (NASDAQ:XMTR) last issued its earnings results on Thursday, May 7th. The company reported $0.12 earnings per share (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 business had revenue of $205.14 million during the quarter, compared to the consensus estimate of $188.46 million. During the same period last year, the company earned ($0.05) EPS. The company’s revenue for the quarter was up 35.9% on a year-over-year basis. As a group, analysts forecast that Xometry will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Xometry

In related news, Director Lukas Alexander Biewald acquired 47,058 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were purchased at an average cost of $85.00 per share, for a total transaction of $3,999,930.00. Following the acquisition, the director owned 55,134 shares in the company, valued at $4,686,390. The trade was a 582.69% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Subir Dutt sold 1,073 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $93.39, for a total transaction of $100,207.47. Following the transaction, the insider directly owned 93,716 shares of the company’s stock, valued at $8,752,137.24. The trade was a 1.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 80,496 shares of company stock valued at $7,124,340. 9.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in XMTR. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Xometry in the fourth quarter valued at $76,393,000. Ameriprise Financial Inc. lifted its stake in Xometry by 54.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,964,909 shares of the company’s stock worth $107,029,000 after acquiring an additional 690,558 shares in the last quarter. Durable Capital Partners LP acquired a new position in Xometry during the 3rd quarter worth about $36,455,000. Allspring Global Investments Holdings LLC boosted its holdings in Xometry by 243.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 694,390 shares of the company’s stock valued at $29,015,000 after acquiring an additional 492,285 shares during the period. Finally, Stephens Investment Management Group LLC boosted its holdings in Xometry by 115.2% during the 4th quarter. Stephens Investment Management Group LLC now owns 842,987 shares of the company’s stock valued at $50,132,000 after acquiring an additional 451,259 shares during the period. 97.31% of the stock is currently owned by institutional investors and hedge funds.

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.