Xometry (NASDAQ:XMTR) Upgraded to “Strong-Buy” at Rosenblatt Securities

Rosenblatt Securities upgraded shares of Xometry (NASDAQ:XMTR) to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

Several other research analysts also recently issued reports on XMTR. Wedbush started coverage on Xometry in a research report on Thursday, July 16th. They set an “outperform” rating and a $126.00 price objective for the company. The Goldman Sachs Group raised their price target on Xometry from $78.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Citizens Jmp boosted their price target on Xometry from $75.00 to $100.00 and gave the stock a “market outperform” rating in a report on Friday, May 8th. UBS Group upped their price objective on Xometry from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Finally, Citigroup boosted their target price on shares of Xometry from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $102.78.

Xometry Stock Down 1.7%

XMTR stock opened at $83.12 on Wednesday. The company has a current ratio of 3.21, a quick ratio of 3.20 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $91.57 and its 200 day moving average price is $70.20. Xometry has a 52 week low of $35.86 and a 52 week high of $106.08. The company has a market cap of $4.31 billion, a P/E ratio of -138.53 and a beta of 1.29.

Xometry (NASDAQ:XMTR) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $229.28 million for the quarter, compared to analysts’ expectations of $215.22 million. Xometry had a negative return on equity of 2.88% and a negative net margin of 3.82%.The company’s revenue was up 41.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 EPS. On average, research analysts expect that Xometry will post -0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sanjeev Singh Sahni sold 1,500 shares of Xometry stock in a transaction on Monday, August 17th. The shares were sold at an average price of $90.19, for a total transaction of $135,285.00. Following the sale, the chief executive officer owned 182,403 shares of the company’s stock, valued at $16,450,926.57. The trade was a 0.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Fabio Rosati sold 1,900 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $89.72, for a total transaction of $170,468.00. Following the completion of the transaction, the director owned 91,667 shares in the company, valued at $8,224,363.24. This represents a 2.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 29,553 shares of company stock valued at $2,737,968. Company insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Xometry

A number of institutional investors have recently modified their holdings of the stock. Comerica Bank grew its holdings in Xometry by 17.9% in the 3rd quarter. Comerica Bank now owns 1,140 shares of the company’s stock worth $62,000 after buying an additional 173 shares in the last quarter. M&T Bank Corp increased its stake in shares of Xometry by 2.1% during the fourth quarter. M&T Bank Corp now owns 8,590 shares of the company’s stock valued at $510,000 after acquiring an additional 180 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Xometry by 9.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,270 shares of the company’s stock worth $194,000 after purchasing an additional 290 shares in the last quarter. Mariner LLC lifted its position in Xometry by 3.2% in the third quarter. Mariner LLC now owns 9,844 shares of the company’s stock worth $536,000 after purchasing an additional 301 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in Xometry by 0.5% during the 4th quarter. New York State Common Retirement Fund now owns 74,565 shares of the company’s stock valued at $4,434,000 after purchasing an additional 348 shares in 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.