Cantor Fitzgerald Forecasts Higher Earnings for Xometry

Xometry, Inc. (NASDAQ:XMTR - Free Report) - Research analysts at Cantor Fitzgerald boosted their FY2024 earnings estimates for Xometry in a note issued to investors on Wednesday, November 6th. Cantor Fitzgerald analyst T. Jensen now forecasts that the company will post earnings of ($0.68) per share for the year, up from their prior estimate of ($0.77). Cantor Fitzgerald has a "Underweight" rating and a $12.00 price objective on the stock. The consensus estimate for Xometry's current full-year earnings is ($0.79) per share.

Xometry (NASDAQ:XMTR - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.13. The company had revenue of $132.60 million for the quarter, compared to analyst estimates of $128.65 million. Xometry had a negative return on equity of 10.16% and a negative net margin of 9.72%. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.55) EPS.

A number of other equities analysts have also issued reports on the company. The Goldman Sachs Group raised their target price on Xometry from $24.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. UBS Group boosted their target price on shares of Xometry from $20.00 to $22.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Craig Hallum lifted their price objective on Xometry from $20.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Royal Bank of Canada upped their target price on Xometry from $23.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Wednesday, November 6th. Finally, Citigroup lifted their price target on Xometry from $25.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $26.29.

Xometry Stock Performance

NASDAQ:XMTR traded up $1.59 during trading hours on Monday, hitting $32.18. 628,448 shares of the company were exchanged, compared to its average volume of 606,323. The company's 50 day moving average price is $20.02 and its 200-day moving average price is $16.95. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -30.65 and a beta of 0.55. Xometry has a 52-week low of $11.08 and a 52-week high of $38.74. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.59 and a quick ratio of 4.60.

Hedge Funds Weigh In On Xometry

Large investors have recently modified their holdings of the business. nVerses Capital LLC acquired a new stake in shares of Xometry in the second quarter valued at $38,000. ProShare Advisors LLC purchased a new position in shares of Xometry in the 2nd quarter valued at about $53,000. Point72 Asset Management L.P. purchased a new stake in shares of Xometry during the second quarter worth approximately $55,000. US Bancorp DE raised its holdings in Xometry by 57.7% in the third quarter. US Bancorp DE now owns 5,570 shares of the company's stock valued at $102,000 after acquiring an additional 2,037 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Xometry in the third quarter worth approximately $153,000. Institutional investors and hedge funds own 97.31% of the company's stock.

Insider Activity

In other Xometry news, CTO Matthew Leibel sold 3,400 shares of the stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 16.79% of the company's stock.

Xometry Company Profile

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.