Xometry (NASDAQ:XMTR) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Xometry (NASDAQ:XMTR) had its target price boosted by Royal Bank of Canada from $23.00 to $27.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other research firms have also issued reports on XMTR. JMP Securities raised their price target on shares of Xometry from $27.00 to $32.00 and gave the stock a “market outperform” rating in a report on Friday, October 18th. Craig Hallum boosted their price target on Xometry from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Cantor Fitzgerald reiterated an “underweight” rating and issued a $12.00 price objective on shares of Xometry in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Xometry presently has a consensus rating of “Hold” and an average target price of $26.29.

Xometry Stock Performance

Xometry stock opened at $30.62 on Wednesday. The business has a 50 day moving average of $19.14 and a 200-day moving average of $16.55. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.64 and a quick ratio of 4.60. Xometry has a 1 year low of $11.08 and a 1 year high of $38.74. The company has a market capitalization of $1.51 billion, a P/E ratio of -28.09 and a beta of 0.55.

Xometry (NASDAQ:XMTR) last announced its earnings results on Tuesday, November 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.09. The business had revenue of $141.70 million during the quarter, compared to analyst estimates of $137.17 million. Xometry had a negative return on equity of 10.75% and a negative net margin of 10.53%. On average, equities research analysts predict that Xometry will post -0.81 earnings per share for the current year.

Insider Activity

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

Institutional Trading of Xometry

A number of institutional investors have recently modified their holdings of the business. Primecap Management Co. CA raised its holdings in Xometry by 1.4% during the 2nd quarter. Primecap Management Co. CA now owns 6,804,988 shares of the company’s stock valued at $78,666,000 after acquiring an additional 93,350 shares during the period. Vanguard Group Inc. grew its position in shares of Xometry by 2.0% in the first quarter. Vanguard Group Inc. now owns 3,877,346 shares of the company’s stock valued at $65,488,000 after purchasing an additional 76,976 shares in the last quarter. Sylebra Capital LLC raised its stake in shares of Xometry by 134.2% during the 2nd quarter. Sylebra Capital LLC now owns 1,508,716 shares of the company’s stock valued at $17,441,000 after purchasing an additional 864,454 shares during the period. Clearbridge Investments LLC lifted its holdings in Xometry by 20.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,270,631 shares of the company’s stock worth $21,461,000 after purchasing an additional 217,939 shares in the last quarter. Finally, Bellecapital International Ltd. bought a new position in Xometry in the 2nd quarter worth about $6,281,000. 97.31% of the stock is currently owned by hedge funds and other 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.