Royal Bank of Canada Boosts Xometry (NASDAQ:XMTR) Price Target to $40.00

Xometry (NASDAQ:XMTR) had its target price increased by Royal Bank of Canada from $27.00 to $40.00 in a report released on Friday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other research firms also recently commented on XMTR. Citigroup increased their price objective on shares of Xometry from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of Xometry from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $25.00 to $45.00 in a research report on Wednesday, December 18th. UBS Group boosted 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. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $12.00 target price on shares of Xometry in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group lifted their target price on Xometry from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.33.

Xometry Stock Performance

Shares of XMTR opened at $43.20 on Friday. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of -41.14 and a beta of 0.83. 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’s 50 day moving average is $33.09 and its two-hundred day moving average is $22.25. Xometry has a 52-week low of $11.08 and a 52-week high of $45.33.

Insider Transactions at Xometry

In other Xometry news, Director Emily Rollins sold 3,729 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $29.49, for a total transaction 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. The trade was a 23.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Matthew Leibel sold 16,564 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $30.08, for a total transaction of $498,245.12. Following the completion of the transaction, the chief technology officer now owns 77,856 shares of the company’s stock, valued at approximately $2,341,908.48. This trade represents a 17.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,279 shares of company stock worth $1,162,332. 16.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Xometry

Several large investors have recently bought and sold shares of XMTR. Raymond James & Associates grew its stake in shares of Xometry by 0.6% in the 3rd quarter. Raymond James & Associates now owns 287,986 shares of the company’s stock worth $5,290,000 after purchasing an additional 1,586 shares during the last quarter. Sei Investments Co. grew its position in Xometry by 0.8% during the 2nd quarter. Sei Investments Co. now owns 214,048 shares of the company’s stock worth $2,474,000 after purchasing an additional 1,708 shares in the last quarter. US Bancorp DE raised its stake in Xometry by 57.7% during the 3rd quarter. US Bancorp DE now owns 5,570 shares of the company’s stock valued at $102,000 after purchasing an additional 2,037 shares during the period. State Street Corp lifted its holdings in shares of Xometry by 0.3% in the third quarter. State Street Corp now owns 887,139 shares of the company’s stock valued at $16,297,000 after purchasing an additional 3,027 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Xometry during the second quarter valued at $38,000. Institutional investors and hedge funds 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.