JMP Securities Forecasts Strong Price Appreciation for Xometry (NASDAQ:XMTR) Stock

Xometry (NASDAQ:XMTR) had its price objective upped by investment analysts at JMP Securities from $34.00 to $42.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target would indicate a potential upside of 44.38% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Citigroup boosted their price objective on shares of Xometry from $25.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Cantor Fitzgerald reiterated an “underweight” rating and set a $12.00 price objective on shares of Xometry in a report on Wednesday, November 6th. Craig Hallum increased their price objective on Xometry from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. UBS Group upped their price target on shares of Xometry from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group boosted their target price on shares of Xometry from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Xometry presently has an average rating of “Hold” and a consensus target price of $27.71.

Xometry Stock Performance

Shares of Xometry stock opened at $29.09 on Thursday. The stock has a market cap of $1.43 billion, a PE ratio of -27.70 and a beta of 0.55. Xometry has a 12 month low of $11.08 and a 12 month high of $38.74. The company has a quick ratio of 4.55, a current ratio of 4.59 and a debt-to-equity ratio of 0.90. The business has a fifty day simple moving average of $20.98 and a 200-day simple moving average of $17.31.

Insider Activity

In related news, CTO Matthew Leibel sold 3,400 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $18.45, for a total transaction of $62,730.00. Following the completion of the sale, the chief technology officer now owns 82,918 shares in the company, valued at $1,529,837.10. This trade represents a 3.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Emily Rollins sold 3,729 shares of Xometry stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $29.49, for a total value of $109,968.21. Following the completion of the transaction, the director now directly owns 12,457 shares of the company’s stock, valued at $367,356.93. This represents a 23.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,633 shares of company stock worth $1,201,730. Corporate insiders own 16.79% of the company’s stock.

Institutional Investors Weigh In On Xometry

Several large investors have recently bought and sold shares of the company. nVerses Capital LLC bought a new position in Xometry during the 2nd quarter worth about $38,000. ProShare Advisors LLC acquired a new stake in Xometry in the 2nd quarter valued at $53,000. Point72 Asset Management L.P. bought a new stake in Xometry during the 2nd quarter worth about $55,000. US Bancorp DE boosted its stake in shares of Xometry by 57.7% during the 3rd quarter. US Bancorp DE now owns 5,570 shares of the company’s stock worth $102,000 after buying an additional 2,037 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Xometry in the 2nd quarter valued at about $129,000. Institutional investors own 97.31% of the company’s stock.

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.