Analysts Set Xometry, Inc. (NASDAQ:XMTR) Target Price at $83.94

Shares of Xometry, Inc. (NASDAQ:XMTR) have been assigned a consensus rating of “Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $83.94.

A number of brokerages have recently weighed in on XMTR. Bank of America began coverage on Xometry in a research report on Monday, July 26th. They set a “buy” rating and a $90.00 target price on the stock. The Goldman Sachs Group began coverage on Xometry in a research report on Monday, July 26th. They set a “neutral” rating and a $64.00 target price on the stock. Zacks Investment Research raised Xometry from a “sell” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. began coverage on Xometry in a research report on Monday, July 26th. They set an “overweight” rating and a $100.00 target price on the stock. Finally, Royal Bank of Canada initiated coverage on Xometry in a research report on Monday, July 26th. They set a “sector perform” rating and a $80.00 target price on the stock.

Shares of Xometry stock traded up $1.22 on Friday, reaching $59.54. 5,555 shares of the company’s stock were exchanged, compared to its average volume of 260,116. Xometry has a 52 week low of $51.05 and a 52 week high of $97.57. The business has a 50-day moving average price of $66.21.

Xometry (NASDAQ:XMTR) last posted its quarterly earnings results on Thursday, August 12th. The company reported ($1.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($1.16). The business had revenue of $50.59 million during the quarter, compared to analysts’ expectations of $47.44 million. Sell-side analysts expect that Xometry will post -1.67 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in XMTR. Next Century Growth Investors LLC bought a new position in shares of Xometry during the 2nd quarter worth $43,000. Sassicaia Capital Advisers LLC bought a new position in shares of Xometry during the 2nd quarter worth $218,000. Maven Securities LTD bought a new position in shares of Xometry during the 2nd quarter worth $276,000. Boothbay Fund Management LLC bought a new position in shares of Xometry during the 2nd quarter worth $376,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Xometry during the 2nd quarter worth $437,000. 38.47% of the stock is owned by hedge funds and other institutional investors.

Xometry Company Profile

Xometry, Inc operates an artificial intelligence (AI) enabled marketplace that enables buyers to source manufactured parts and assemblies. The company's platform offers CNC manufacturing, sheet metal manufacturing, 3D printing, sheet metal fabrication, die casting, injection molding and urethane casting, and other products.

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Analyst Recommendations for Xometry (NASDAQ:XMTR)

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