UBS Group Issues Positive Forecast for Xometry (NASDAQ:XMTR) Stock Price

Xometry (NASDAQ:XMTR) had its target price increased by equities researchers at UBS Group from $95.00 to $108.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group‘s price objective suggests a potential downside of 4.86% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Royal Bank Of Canada raised their target price on Xometry from $100.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Wednesday. BNP Paribas Exane started coverage on Xometry in a research note on Friday, September 18th. They set an “outperform” rating and a $120.00 price target for the company. The Goldman Sachs Group upped their price target on shares of Xometry from $78.00 to $104.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Wedbush increased their price objective on shares of Xometry from $126.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Raymond James Financial set a $120.00 price objective on shares of Xometry in a research note on Tuesday, September 22nd. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.64.

Xometry Stock Performance

Shares of NASDAQ XMTR traded up $2.23 during midday trading on Wednesday, hitting $113.52. 973,641 shares of the stock traded hands, compared to its average volume of 882,788. The firm has a 50-day moving average of $96.90 and a two-hundred day moving average of $76.46. The firm has a market capitalization of $5.88 billion, a P/E ratio of -189.20 and a beta of 1.33. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.20 and a current ratio of 3.21. Xometry has a one year low of $35.86 and a one year high of $117.50.

Xometry (NASDAQ:XMTR) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.09. Xometry had a negative return on equity of 2.88% and a negative net margin of 3.82%. The firm had revenue of $252.44 million for the quarter, compared to the consensus estimate of $235.54 million. During the same period last year, the business posted $0.11 EPS. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. On average, equities analysts forecast that Xometry will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sanjeev Sahni sold 1,500 shares of Xometry stock in a transaction on Monday, October 12th. The stock was sold at an average price of $108.80, for a total transaction of $163,200.00. Following the transaction, the chief executive officer directly owned 178,291 shares in the company, valued at approximately $19,398,060.80. The trade was a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Randolph Altschuler sold 5,721 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $103.32, for a total value of $591,093.72. Following the sale, the director directly owned 423,029 shares of the company’s stock, valued at $43,707,356.28. This represents a 1.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 64,699 shares of company stock valued at $6,169,735. Company insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in XMTR. Pictet Asset Management Holding SA boosted its holdings in Xometry by 7.6% in the 3rd quarter. Pictet Asset Management Holding SA now owns 7,203 shares of the company’s stock worth $741,000 after buying an additional 508 shares during the period. Integrity Alliance LLC. purchased a new stake in Xometry in the 3rd quarter worth $252,000. IPG Investment Advisors LLC raised its holdings in Xometry by 34.4% during the third quarter. IPG Investment Advisors LLC now owns 3,361 shares of the company’s stock valued at $346,000 after acquiring an additional 861 shares during the period. ProShare Advisors LLC raised its holdings in Xometry by 7.4% during the third quarter. ProShare Advisors LLC now owns 6,507 shares of the company’s stock valued at $669,000 after acquiring an additional 446 shares during the period. Finally, Vise Technologies Inc. bought a new stake in Xometry during the third quarter valued at about $216,000. Institutional investors own 97.31% of the company’s stock.

Key Headlines Impacting Xometry

Here are the key news stories impacting Xometry this week:

• Positive Sentiment: Q3 results beat estimates: Revenue rose 39.5% year over year to a record $252.44 million, ahead of the $235.54 million consensus, while earnings of $0.28 per share topped the $0.19 estimate. Marketplace revenue grew 43% to $238 million, and active buyers increased 20% to 93,812. The earnings call also highlighted Xometry’s first GAAP profit. Xometry Q3 results Q3 earnings call highlights
• Positive Sentiment: Analysts raised targets: JPMorgan lifted its target to $140 and kept an Overweight rating; Citizens JMP raised its target to $135 with Market Outperform; Citigroup set a $132 target and Buy rating; and Rosenblatt raised its target to $130 with a Buy rating. These revisions signal greater confidence in Xometry’s growth outlook. JPMorgan analyst ratings Citigroup analyst ratings
• Neutral Sentiment: Other target increases were more modest: RBC raised its target to $117 but maintained Sector Perform, while Cantor Fitzgerald set a $114 target and retained Overweight. RBC target update Cantor Fitzgerald target update

About Xometry

Xometry, Inc (NASDAQ:XMTR) operates a technology-driven marketplace that connects businesses seeking custom parts with a network of manufacturing suppliers. Its platform uses automated pricing, manufacturability analysis and digital workflows to help customers source parts and manage production more efficiently.

The company supports a range of manufacturing processes, including CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other specialized production services.