Xometry: Downgrading To Hold As The Market Focus Has Shifted To The Near-Term Outlook [Seeking Alpha]
Xometry, Inc. - Class A (XMTR)
Company Research
Source: Seeking Alpha
The company's 4Q23 revenue was in line with guidance, but adjusted EBITDA fell short, impacting investor sentiment. Management's guidance for 1Q24 indicates a significant deceleration in growth, and the delay in meeting adj EBITDA target is not positive as well. Investment action I recommended a buy rating for Xometry ( NASDAQ: XMTR ) when I wrote about it the last time , as key operating metrics continued to point to strong growth ahead, which reinforced my view on the long-term fundamentals of the business. My last post was in August 2023, when the share price was at ~$17 and I had a target price of $34. In just 4 months, the XMTR share price has gone past my target price, reaching a peak of ~$39. Based on my current outlook and analysis, I recommend a hold rating. I downgraded my rating because the equity narrative for XMTR has changed from focusing on the long-term (my previous bull case) to focusing on the near-term (FY24) performance, and I do not have sufficient convicti
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High impacting Xometry, Inc. - Class A news events
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XMTR
News
- Xometry, Inc. (NASDAQ: XMTR) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $30.00 price target on the stock.MarketBeat
- Xometry to Announce First Quarter 2024 Financial Results on May 9, 2024GlobeNewswire
- Manufacturing CEOs Say 2024 Presidential Election Will Be ‘Pivotal,' New ‘American Manufacturing Resilience' Survey From Zogby Strategies and Xometry Reveals [Yahoo! Finance]Yahoo! Finance
- Manufacturing CEOs Say 2024 Presidential Election Will Be ‘Pivotal,’ New ‘American Manufacturing Resilience’ Survey From Zogby Strategies and Xometry RevealsGlobeNewswire
- Smaller US manufacturers warm to Biden's big industrial plan, survey shows [Reuters]Reuters
XMTR
Earnings
- 2/29/24 - Beat
XMTR
Sec Filings
- 4/11/24 - Form 8-K
- 4/5/24 - Form 4
- 4/5/24 - Form 4
- XMTR's page on the SEC website