Cantor Fitzgerald Upgrades Xometry (NASDAQ:XMTR) to “Overweight”

Xometry (NASDAQ:XMTR) was upgraded by equities researchers at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a note issued to investors on Thursday, MarketBeat reports. The firm presently has a $62.00 price target on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 15.52% from the stock’s previous close.

A number of other research analysts have also recently weighed in on XMTR. Royal Bank Of Canada lowered their target price on shares of Xometry from $64.00 to $55.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 25th. William Blair restated an “outperform” rating on shares of Xometry in a research note on Tuesday, February 24th. Zacks Research upgraded shares of Xometry from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. UBS Group lifted their target price on shares of Xometry from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Finally, Wedbush decreased their price target on shares of Xometry from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $62.25.

Xometry Trading Up 4.7%

Shares of Xometry stock opened at $53.67 on Thursday. The company’s fifty day simple moving average is $43.50 and its 200-day simple moving average is $53.70. The stock has a market capitalization of $2.78 billion, a PE ratio of -43.99 and a beta of 1.01. Xometry has a 1-year low of $26.52 and a 1-year high of $73.87. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.76 and a quick ratio of 3.72.

Xometry (NASDAQ:XMTR) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. The business had revenue of $192.40 million for the quarter, compared to analysts’ expectations of $183.37 million. Xometry had a negative net margin of 8.99% and a negative return on equity of 5.49%. The company’s revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 EPS. As a group, equities analysts anticipate that Xometry will post -0.1 earnings per share for the current year.

Insiders Place Their Bets

In other Xometry news, Director Emily Rollins sold 1,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $42.02, for a total value of $42,020.00. Following the sale, the director owned 15,136 shares in the company, valued at $636,014.72. The trade was a 6.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Sanjeev Singh Sahni sold 9,978 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $43.45, for a total transaction of $433,544.10. Following the completion of the sale, the president owned 113,022 shares in the company, valued at approximately $4,910,805.90. The trade was a 8.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 68,090 shares of company stock worth $3,032,592. 9.66% of the stock is owned by corporate insiders.

Institutional Trading of Xometry

A number of large investors have recently made changes to their positions in XMTR. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Xometry in the 4th quarter worth about $76,393,000. Ameriprise Financial Inc. increased its holdings in shares of Xometry by 54.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,964,909 shares of the company’s stock worth $107,029,000 after buying an additional 690,558 shares during the last quarter. Durable Capital Partners LP bought a new stake in shares of Xometry in the 3rd quarter worth about $36,455,000. Stephens Investment Management Group LLC increased its holdings in shares of Xometry by 115.2% in the 4th quarter. Stephens Investment Management Group LLC now owns 842,987 shares of the company’s stock worth $50,132,000 after buying an additional 451,259 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in shares of Xometry by 272.0% in the 4th quarter. Lord Abbett & CO. LLC now owns 479,013 shares of the company’s stock worth $28,487,000 after buying an additional 350,230 shares during the last quarter. 97.31% of the stock is currently owned by institutional investors.

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.