Shares of Xometry, Inc. (NASDAQ: XMTR) have received a consensus recommendation of “Hold” from ten brokerages currently covering the stock, according to MarketBeat. Research indicates that one analyst has issued a sell rating, while four have assigned a hold rating and five have given the stock a buy rating. The average target price over the next year is set at $57.89, reflecting a mix of optimism and caution among analysts.
On November 5, 2023, several major investment firms provided updates on their ratings for Xometry. Citigroup maintained an “outperform” rating, while Wedbush raised their price objective from $48.00 to $70.00 for the shares, also issuing an “outperform” rating. Goldman Sachs Group adjusted their target price from $49.00 to $56.00 and expressed a “neutral” outlook. Similarly, Citizens Jmp increased their price target from $65.00 to $75.00, deeming the stock a “market outperform.” Lastly, Cantor Fitzgerald raised their target from $41.00 to $60.00, also assigning a “neutral” rating.
Institutional investors have been active in adjusting their positions in Xometry. Notably, Tudor Investment Corp ET AL acquired a new position valued at $467,000 during the third quarter. Polar Asset Management Partners Inc. purchased a stake worth around $2.62 million, while CIBC Bancorp USA Inc. invested approximately $253,000. Castleark Management LLC increased its holdings by 27.6%, now owning 163,948 shares valued at $8.93 million after buying an additional 35,498 shares. Furthermore, Worth Venture Partners LLC acquired a new position worth about $391,000. Overall, institutional investors hold 97.31% of Xometry’s stock.
Xometry Stock Performance and Financials
Xometry’s shares opened at $62.76 on November 5, 2023. The company’s fifty-day simple moving average stands at $59.10, while the 200-day moving average is $48.91. Key financial metrics include a current ratio of 3.62, a quick ratio of 3.58, and a debt-to-equity ratio of 1.20. Over the past twelve months, Xometry has experienced a low of $18.59 and a high of $69.26, with a market capitalization of $3.22 billion and a price-to-earnings ratio of -50.21.
The company’s latest quarterly earnings report, released on November 4, 2023, showed earnings per share (EPS) of $0.11, matching analyst expectations. Revenue for the quarter reached $180.72 million, surpassing the consensus estimate of $168.25 million. Year-over-year revenue growth was notable at 27.5%, compared to the same quarter last year when the firm reported an EPS of $0.02. Analysts predict that Xometry will post an EPS of -0.66 for the current fiscal year.
About Xometry, Inc.
Founded in 2013 and headquartered in Rockville, Maryland, Xometry, Inc. operates a technology-driven marketplace connecting businesses with on-demand manufacturing capabilities across various processes. Utilizing its proprietary Instant Quoting Engine and Xometry Platform, the company facilitates 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 clients in sectors including automotive, aerospace, medical devices, and industrial equipment.
As Xometry continues to navigate the evolving manufacturing landscape, its performance and strategic moves will remain under close scrutiny from analysts and investors alike.
