Xometry (NASDAQ:XMTR) Given "Outperform" Rating at Wedbush

Xometry (NASDAQ:XMTR - Get Free Report)'s stock had its "outperform" rating reaffirmed by Wedbush in a report issued on Friday, MarketBeat Ratings reports. They currently have a $48.00 price objective on the stock. Wedbush's target price suggests a potential upside of 15.19% from the company's previous close.

Several other equities analysts also recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Xometry from $24.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their price target on Xometry from $23.00 to $27.00 and gave the company a "sector perform" rating in a research note on Wednesday, November 6th. UBS Group raised their price objective on Xometry from $20.00 to $22.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Craig Hallum lifted their target price on shares of Xometry from $20.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $42.00 price objective on shares of Xometry in a report on Monday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $31.89.

Xometry Trading Up 13.9 %

Shares of XMTR stock traded up $5.07 during trading hours on Friday, reaching $41.67. 1,306,191 shares of the stock were exchanged, compared to its average volume of 601,405. 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 company's 50-day moving average price is $27.98 and its 200-day moving average price is $20.04. Xometry has a 12-month low of $11.08 and a 12-month high of $42.00. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -39.69 and a beta of 0.83.

Insider Activity

In other news, COO Peter Goguen sold 986 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $40.08, for a total value of $39,518.88. Following the completion of the sale, the chief operating officer now owns 168,933 shares of the company's stock, valued at $6,770,834.64. This trade represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Emily Rollins sold 3,729 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $29.49, for a total transaction of $109,968.21. Following the sale, the director now owns 12,457 shares of the company's stock, valued at approximately $367,356.93. This represents a 23.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,219 shares of company stock worth $1,178,519 over the last 90 days. 16.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Xometry

Institutional investors and hedge funds have recently bought and sold shares of the business. Primecap Management Co. CA raised its position in shares of Xometry by 1.7% in the 3rd quarter. Primecap Management Co. CA now owns 6,918,252 shares of the company's stock valued at $127,088,000 after acquiring an additional 113,264 shares during the period. FMR LLC boosted 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 last quarter. Fred Alger Management LLC increased its holdings in Xometry by 20.8% during the third quarter. Fred Alger Management LLC now owns 1,815,696 shares of the company's stock worth $33,354,000 after buying an additional 312,971 shares during the last quarter. Sylebra Capital LLC lifted its stake in Xometry by 19.1% in the 3rd quarter. Sylebra Capital LLC now owns 1,796,867 shares of the company's stock valued at $33,008,000 after purchasing an additional 288,151 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Xometry by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 995,478 shares of the company's stock worth $18,291,000 after acquiring an additional 41,341 shares during the last quarter. Institutional investors and hedge funds own 97.31% 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.