These Analysts Boost Their Forecasts On Xometry Following Strong Q3 Results

Xometry, Inc (NASDAQ:XMTR) on Tuesday reported better-than-expected third-quarter financial results and issued fourth-quarter sales guidance above analysts estimate.

Xometry reported quarterly earnings of 28 cents per share which beat the analyst consensus estimate of 18 cents per share. The company reported quarterly sales of $252.430 million which beat the analyst consensus estimate of $235.561 million.

Xometry said it sees fourth-quarter sales of $254.000 million-$256.000 million, versus market estimates of $247.793 million.

“Our key growth initiatives drove record results in the third quarter, with marketplace growth of 43% year-over-year, as we surpassed the $1 billion revenue run rate. We further improved our marketplace experience and continue to deepen enterprise engagement, driving record net buyer additions and increasing wallet share in larger accounts,” said Sanjeev Singh Sahni, CEO at Xometry. “We continue to strengthen Xometry’s position as the infrastructure layer for custom manufacturing, enabling us to rapidly scale online adoption and accelerate market share gains.”

Xometry shares fell 1.4% to $109.71 in pre-market trading.

These analysts made changes to their price targets on Xometry following earnings announcement.

• Cantor Fitzgerald analyst Troy Jensen maintained the stock with an Overweight rating and raised the price target from $110 to $114.
• Rosenblatt analyst Scott Devitt maintained the stock with a Buy and raised the price target from $120 to $130.

Considering buying XMTR stock? Here’s what analysts think:

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