Citigroup Cuts Xometry (NASDAQ:XMTR) Price Target to $39.00

Xometry (NASDAQ:XMTR) had its price target cut by investment analysts at Citigroup from $46.00 to $39.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 42.75% from the company’s current price.

Several other research analysts have also recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $42.00 target price on shares of Xometry in a research report on Monday, February 10th. UBS Group lifted their target price on Xometry from $22.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday. Cantor Fitzgerald lifted their price target on Xometry from $12.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday. Craig Hallum lifted their price target on Xometry from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upgraded Xometry from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $25.00 to $45.00 in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.11.

Xometry Stock Down 0.1 %

Shares of NASDAQ:XMTR opened at $27.32 on Thursday. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -26.02 and a beta of 0.65. The company has a quick ratio of 4.55, a current ratio of 4.59 and a debt-to-equity ratio of 0.90. Xometry has a 12-month low of $11.08 and a 12-month high of $45.33. The business’s 50 day moving average is $36.13 and its 200 day moving average is $28.08.

Insider Buying and Selling

In related news, CFO James Miln sold 5,386 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $42.33, for a total transaction of $227,989.38. Following the sale, the chief financial officer now owns 102,329 shares of the company’s stock, valued at approximately $4,331,586.57. This represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Peter Goguen sold 940 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $42.36, for a total value of $39,818.40. Following the completion of the transaction, the chief operating officer now owns 167,993 shares in the company, valued at $7,116,183.48. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,312 shares of company stock valued at $517,537. Corporate insiders own 16.79% of the company’s stock.

Hedge Funds Weigh In On Xometry

A number of institutional investors have recently added to or reduced their stakes in XMTR. FMR LLC increased its stake in Xometry by 40.2% in the 3rd quarter. FMR LLC now owns 4,078,462 shares of the company’s stock worth $74,921,000 after acquiring an additional 1,169,778 shares during the last quarter. First Trust Advisors LP increased its stake in Xometry by 2,144.2% in the 4th quarter. First Trust Advisors LP now owns 817,475 shares of the company’s stock worth $34,873,000 after acquiring an additional 781,049 shares during the last quarter. Baillie Gifford & Co. bought a new position in Xometry in the 4th quarter worth about $30,297,000. Ameriprise Financial Inc. increased its stake in Xometry by 225.7% in the 4th quarter. Ameriprise Financial Inc. now owns 852,813 shares of the company’s stock worth $36,381,000 after acquiring an additional 590,974 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in Xometry in the 4th quarter worth about $17,623,000. 97.31% of the stock is currently owned by institutional investors.

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.