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

Xometry (NASDAQ:XMTR) had its price target raised by stock analysts at Citigroup from $25.00 to $33.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 7.84% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. The Goldman Sachs Group lifted their price target on Xometry from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada lifted their target price on shares of Xometry from $23.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Cantor Fitzgerald reiterated an “underweight” rating and set a $12.00 price target on shares of Xometry in a report on Wednesday. JMP Securities upped their price objective on shares of Xometry from $27.00 to $32.00 and gave the company a “market outperform” rating in a research note on Friday, October 18th. Finally, Craig Hallum increased their target price on shares of Xometry from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.29.

Xometry Price Performance

XMTR stock opened at $30.60 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.60 and a current ratio of 4.64. The firm has a market cap of $1.51 billion, a P/E ratio of -28.39 and a beta of 0.55. The firm’s fifty day moving average is $19.35 and its 200 day moving average is $16.65. Xometry has a 52 week low of $11.08 and a 52 week high of $38.74.

Xometry (NASDAQ:XMTR) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.13. Xometry had a negative return on equity of 10.75% and a negative net margin of 10.53%. The firm had revenue of $132.60 million for the quarter, compared to analysts’ expectations of $128.65 million. During the same period last year, the firm earned ($0.55) earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. Research analysts predict that Xometry will post -0.81 earnings per share for the current year.

Insider Activity

In related news, CTO Matthew Leibel sold 3,400 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $18.45, for a total value of $62,730.00. Following the completion of the transaction, the chief technology officer now directly owns 82,918 shares of the company’s stock, valued at $1,529,837.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 16.79% of the company’s stock.

Institutional Investors Weigh In On Xometry

Hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its holdings in Xometry by 22.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,840 shares of the company’s stock worth $200,000 after purchasing an additional 2,140 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Xometry by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 3,877,346 shares of the company’s stock worth $65,488,000 after acquiring an additional 76,976 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new position in Xometry during the 1st quarter valued at about $169,000. Clearbridge Investments LLC lifted its position in Xometry by 20.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,270,631 shares of the company’s stock valued at $21,461,000 after acquiring an additional 217,939 shares during the period. Finally, Sylebra Capital LLC grew its holdings in Xometry by 1,005.3% in the first quarter. Sylebra Capital LLC now owns 644,262 shares of the company’s stock worth $10,882,000 after purchasing an additional 585,971 shares during the period. 97.31% of the stock is currently owned by institutional investors.

About Xometry

Xometry, Inc operates an online marketplace that enables buyers to source custom-manufactured parts and assemblies in the United States and internationally. It provides computer numerical control manufacturing, sheet metal forming, and sheet cutting; 3D printing, including fused deposition modeling, direct metal laser sintering, PolyJet, stereolithography, selective laser sintering, binder jetting, carbon digital light synthesis, multi jet fusion, and lubricant sublayer photo-curing; and die casting, stamping, injection molding, urethane casting, tube cutting, and tube bending, as well as finishing services, rapid prototyping, and high-volume production services.