Analysts Set Xometry, Inc. (NASDAQ:XMTR) Target Price at $33.33

Xometry, Inc. (NASDAQ:XMTR) has earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $33.33.

XMTR has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “underweight” rating and issued a $12.00 price target on shares of Xometry in a report on Wednesday, November 6th. Wedbush reiterated an “outperform” rating and issued a $48.00 target price on shares of Xometry in a research note on Friday, December 20th. Royal Bank of Canada raised their price target on shares of Xometry from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group upped their price objective on Xometry from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $42.00 price objective on shares of Xometry in a report on Monday, February 10th.

Xometry Stock Down 2.4 %

XMTR stock opened at $37.45 on Friday. The stock has a market cap of $1.86 billion, a P/E ratio of -35.67 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 stock’s fifty day simple moving average is $36.89 and its two-hundred day simple moving average is $26.90. Xometry has a 1-year low of $11.08 and a 1-year high of $45.33.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. boosted its stake in Xometry by 8.1% during the fourth quarter. Ameritas Investment Partners Inc. now owns 4,447 shares of the company’s stock valued at $190,000 after buying an additional 333 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Xometry during the fourth quarter worth about $27,000. Comerica Bank increased its position in shares of Xometry by 195.1% in the fourth quarter. Comerica Bank now owns 1,133 shares of the company’s stock worth $48,000 after purchasing an additional 749 shares during the last quarter. Arizona State Retirement System raised its stake in Xometry by 7.9% in the fourth quarter. Arizona State Retirement System now owns 12,180 shares of the company’s stock valued at $520,000 after purchasing an additional 891 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Xometry during the fourth quarter valued at approximately $38,000. 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.