Citigroup Lowers Xometry (NASDAQ:XMTR) Price Target to $39.00

Xometry (NASDAQ:XMTR - Get Free Report) had its price target decreased by Citigroup from $46.00 to $39.00 in a report released on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's target price points to a potential upside of 54.46% from the stock's current price.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada lifted their target price on Xometry from $27.00 to $40.00 and gave the company a "sector perform" rating in a research report on Friday, January 3rd. JMP Securities reaffirmed a "market outperform" rating and issued a $42.00 price objective on shares of Xometry in a research note on Monday, February 10th. JPMorgan Chase & Co. raised Xometry from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $25.00 to $45.00 in a research note on Wednesday, December 18th. Craig Hallum upped their price objective on Xometry from $20.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price objective on Xometry from $24.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Xometry presently has an average rating of "Moderate Buy" and an average price target of $36.11.

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Xometry Stock Performance

NASDAQ XMTR traded down $2.07 on Thursday, hitting $25.25. 633,594 shares of the company traded hands, compared to its average volume of 678,850. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -24.05 and a beta of 0.65. The company has a current ratio of 4.59, a quick ratio of 4.55 and a debt-to-equity ratio of 0.90. The business's 50 day moving average price is $35.80 and its 200-day moving average price is $28.28. Xometry has a 52-week low of $11.08 and a 52-week high of $45.33.

Insider Activity at Xometry

In related news, CFO James Miln sold 5,386 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $42.33, for a total transaction of $227,989.38. Following the completion of the transaction, the chief financial officer now directly owns 102,329 shares of the company's stock, valued at approximately $4,331,586.57. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Peter Goguen sold 986 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $40.08, for a total value of $39,518.88. Following the transaction, the chief operating officer now directly owns 168,933 shares of the company's stock, valued at approximately $6,770,834.64. The trade was a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,312 shares of company stock valued at $517,537. Insiders own 16.79% of the company's stock.

Institutional Investors Weigh In On Xometry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA raised its position in Xometry by 1.7% during the third quarter. Primecap Management Co. CA now owns 6,918,252 shares of the company's stock valued at $127,088,000 after purchasing an additional 113,264 shares during the period. Vanguard Group Inc. raised its position in Xometry by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 4,293,272 shares of the company's stock valued at $183,151,000 after purchasing an additional 86,997 shares during the period. FMR LLC raised its position in Xometry by 40.2% during the third quarter. FMR LLC now owns 4,078,462 shares of the company's stock valued at $74,921,000 after purchasing an additional 1,169,778 shares during the period. Sylebra Capital LLC raised its position in Xometry by 2.1% during the fourth quarter. Sylebra Capital LLC now owns 1,834,750 shares of the company's stock valued at $78,270,000 after purchasing an additional 37,883 shares during the period. Finally, Fred Alger Management LLC raised its position in Xometry by 20.8% during the third quarter. Fred Alger Management LLC now owns 1,815,696 shares of the company's stock valued at $33,354,000 after purchasing an additional 312,971 shares during the period. 97.31% of the stock is currently owned by hedge funds and other institutional investors.

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.