Xometry Q3 Revenue Up 27.5% to $180.7M, Analysts Lift Price Targets to $75 and $70
Xometry’s Q3 revenue rose 27.5% year-over-year to $180.72 million, surpassing the $168.25 million consensus while EPS met estimates at $0.11. Analysts now assign an average 12-month target of $57.89 after five buy and four hold ratings, with Citizens JMP and Wedbush lifting targets to $75 and $70 respectively.
1. Analyst Ratings Overview
Xometry has been reviewed by ten independent research firms over the past year, resulting in a distribution of one sell recommendation, four hold recommendations and five buy recommendations. This collective analysis yields an average recommendation of Hold, reflecting mixed sentiment on the company’s near-term growth prospects. Analysts cited the firm’s solid revenue expansion—up 27.5% year-over-year in the latest quarter—as a key positive, while concerns around continued negative net margins and return on equity were noted as limiting factors.
2. Research Updates and Price Objectives
On November 5th, five major brokerages published refreshed research notes on Xometry. Citizens Jmp upgraded to Market Outperform and lifted its 12-month target from 65 to 75. Cantor Fitzgerald maintained a Neutral stance while raising its target from 41 to 60. JMP Securities set its target at 75, Wedbush boosted its Outperform rating alongside a target increase from 48 to 70, and JPMorgan Chase & Co. moved to Overweight with a target increase from 55 to 70. These revisions underscore growing confidence in the company’s technology-enabled marketplace model.
3. Insider Transactions and Ownership Changes
In recent insider activity, CFO James Miln sold 599 shares at an average of 62.11 for total proceeds near 37,200, reducing his stake by 0.42%. Vice President Subir Dutt sold 2,075 shares at 60.00, netting approximately 124,500 and trimming his holding by 2.83%. Over the past quarter, insiders have sold a combined 12,005 shares totaling around 631,147. Insider ownership now represents 9.66% of the company’s outstanding shares, a slight decline reflecting these transactions.
4. Institutional Holdings and Trading Activity
Large institutional investors have adjusted their positions in Xometry during the second quarter. Hood River Capital Management increased its stake by 29.7%, adding 92,741 shares to reach approximately 404,853 shares. Squarepoint Ops boosted its holding by 33.9%, acquiring 46,502 shares for a total of roughly 183,799 shares. New positions were initiated by LVW Advisors (valued near 388,000), Sheets Smith Investment Management (around 347,000), and Zweig DiMenna Associates (about 1.6 million). Institutional ownership accounts for 97.31% of outstanding shares, evidencing strong professional investor interest.