Xometry (NASDAQ:XMTR) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Xometry (NASDAQ:XMTR) announced its quarterly earnings results on Tuesday. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04, Briefing.com reports. Xometry had a negative net margin of 9.80% and a negative return on equity of 6.59%. The company’s revenue was up 29.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 earnings per share.

Xometry Stock Up 0.8%

NASDAQ:XMTR opened at $57.15 on Tuesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 3.62 and a quick ratio of 3.58. Xometry has a 1-year low of $18.59 and a 1-year high of $73.87. The company has a 50-day moving average of $62.02 and a 200 day moving average of $56.19. The firm has a market cap of $2.93 billion, a PE ratio of -45.72 and a beta of 0.86.

Insider Activity at Xometry

In other news, CTO Vaidyanathan Raghavan sold 3,570 shares of Xometry stock in a transaction on Monday, January 5th. The stock was sold at an average price of $66.51, for a total value of $237,440.70. Following the transaction, the chief technology officer directly owned 38,397 shares in the company, valued at approximately $2,553,784.47. This trade represents a 8.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Subir Dutt sold 3,929 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $65.55, for a total value of $257,545.95. Following the transaction, the insider directly owned 67,419 shares in the company, valued at $4,419,315.45. This represents a 5.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 63,861 shares of company stock valued at $4,213,697 over the last quarter. 9.66% of the stock is owned by insiders.

Institutional Trading of Xometry

Institutional investors have recently bought and sold shares of the stock. Kemnay Advisory Services Inc. acquired a new position in Xometry during the 4th quarter valued at approximately $28,000. Quantbot Technologies LP acquired a new position in shares of Xometry in the 3rd quarter valued at $30,000. Comerica Bank lifted its position in Xometry by 17.9% during the 3rd quarter. Comerica Bank now owns 1,140 shares of the company’s stock worth $62,000 after acquiring an additional 173 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Xometry in the fourth quarter valued at about $71,000. Finally, Osaic Holdings Inc. lifted its holdings in shares of Xometry by 27.2% during the second quarter. Osaic Holdings Inc. now owns 4,438 shares of the company’s stock worth $150,000 after purchasing an additional 948 shares during the period. 97.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Zacks Research downgraded Xometry from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Wedbush increased their price target on Xometry from $48.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, November 5th. Citizens Jmp set a $75.00 price objective on shares of Xometry in a research note on Wednesday, November 5th. The Goldman Sachs Group increased their target price on shares of Xometry from $49.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Xometry in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $55.75.

Xometry Company Profile

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.