Xometry (NASDAQ:XMTR) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Xometry (NASDAQ:XMTR) had its price target hoisted by stock analysts at Royal Bank of Canada from $27.00 to $40.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential downside of 7.41% from the company’s current price.

A number of other brokerages also recently issued reports on XMTR. Citigroup raised their target price on Xometry from $25.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $12.00 target price on shares of Xometry in a research note on Wednesday, November 6th. JMP Securities reissued a “market outperform” rating and issued a $42.00 price target on shares of Xometry in a research note on Monday, December 16th. UBS Group raised their price target on shares of Xometry from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upgraded Xometry from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $25.00 to $45.00 in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.33.

Xometry Stock Up 3.8 %

XMTR opened at $43.20 on Friday. The firm’s 50 day simple moving average is $33.09 and its two-hundred day simple moving average is $22.32. The company has a market capitalization of $2.14 billion, a PE ratio of -41.14 and a beta of 0.83. The company has a current ratio of 4.59, a quick ratio of 4.55 and a debt-to-equity ratio of 0.90. Xometry has a 1-year low of $11.08 and a 1-year high of $45.33.

Insider Activity at Xometry

In other Xometry news, Director Emily Rollins sold 3,729 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $29.49, for a total transaction of $109,968.21. Following the sale, the director now directly owns 12,457 shares in the company, valued at $367,356.93. This represents a 23.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Peter Goguen sold 986 shares of the business’s stock in a transaction 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 completion of the transaction, the chief operating officer now owns 168,933 shares of the company’s stock, valued at approximately $6,770,834.64. This trade represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,279 shares of company stock worth $1,162,332 in the last three months. 16.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Xometry

Several large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in shares of Xometry by 21.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,522 shares of the company’s stock valued at $1,624,000 after buying an additional 25,247 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Xometry by 66.0% during the second quarter. Commonwealth Equity Services LLC now owns 25,403 shares of the company’s stock worth $294,000 after purchasing an additional 10,103 shares in the last quarter. nVerses Capital LLC purchased a new stake in Xometry in the second quarter valued at approximately $38,000. Rhumbline Advisers boosted its stake in Xometry by 6.8% during the 2nd quarter. Rhumbline Advisers now owns 58,002 shares of the company’s stock worth $670,000 after purchasing an additional 3,690 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Xometry by 44.9% during the second quarter. Dimensional Fund Advisors LP now owns 493,847 shares of the company’s stock worth $5,712,000 after buying an additional 153,107 shares during the period. Hedge funds and other institutional investors 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.