Xometry (NASDAQ:XMTR) Rating Increased to Hold at Zacks Research

Xometry (NASDAQ:XMTR) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Citizens Jmp set a $75.00 target price on shares of Xometry in a report on Wednesday, November 5th. Citigroup reduced their price objective on Xometry from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Xometry in a report on Wednesday, January 21st. The Goldman Sachs Group increased their target price on Xometry from $49.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Finally, Royal Bank Of Canada reduced their price target on Xometry from $64.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 25th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Xometry presently has a consensus rating of “Hold” and an average price target of $62.00.

Xometry Stock Performance

NASDAQ XMTR opened at $41.26 on Monday. Xometry has a 52-week low of $18.59 and a 52-week high of $73.87. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.72 and a current ratio of 3.76. The company has a market capitalization of $2.11 billion, a P/E ratio of -33.82 and a beta of 0.90. The company has a fifty day moving average of $59.76 and a 200-day moving average of $56.06.

Xometry (NASDAQ:XMTR) last released its earnings results on Tuesday, February 24th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Xometry had a negative return on equity of 5.49% and a negative net margin of 8.99%.The business had revenue of $192.40 million for the quarter, compared to analysts’ expectations of $183.37 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The firm’s revenue was up 29.5% on a year-over-year basis. As a group, equities research analysts predict that Xometry will post -0.66 EPS for the current fiscal year.

Insider Activity at Xometry

In other Xometry news, CEO Randolph Altschuler sold 31,928 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $43.44, for a total transaction of $1,386,952.32. Following the completion of the transaction, the chief executive officer owned 372,377 shares of the company’s stock, valued at $16,176,056.88. This represents a 7.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Sanjeev Singh Sahni sold 26,190 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $65.47, for a total value of $1,714,659.30. Following the transaction, the president directly owned 63,130 shares in the company, valued at $4,133,121.10. This trade represents a 29.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 127,852 shares of company stock worth $6,993,940 over the last 90 days. 9.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. purchased a new position in shares of Xometry during the fourth quarter valued at about $28,000. Quantbot Technologies LP purchased a new position in shares of Xometry during the 3rd quarter worth approximately $30,000. Advisors Asset Management Inc. grew its holdings in shares of Xometry by 68.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,015 shares of the company’s stock worth $34,000 after acquiring an additional 412 shares during the period. Westend Capital Management LLC bought a new position in shares of Xometry in the 3rd quarter worth approximately $41,000. Finally, GAMMA Investing LLC boosted its position in shares of Xometry by 26.5% during the fourth quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock valued at $46,000 after purchasing an additional 162 shares in the last quarter. 97.31% of the stock is currently owned by institutional investors.

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.