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Investing.com - JMP Securities has reiterated a Market Outperform rating on Xometry Inc (NASDAQ:XMTR) with a price target of $45.00, representing one of the highest targets on Wall Street. The stock, currently trading at $35.96 with a market capitalization of $1.82 billion, has demonstrated remarkable strength with a 174% return over the past year.
The firm’s analysis suggests Xometry is transforming the custom manufacturing market by reducing friction between buyers and manufacturers, positioning the company for continued growth. According to InvestingPro data, the company’s revenue grew by 19.35% in the last twelve months, while maintaining healthy liquidity with a current ratio of 3.74.
JMP Securities believes Xometry has achieved sufficient scale to drive ongoing market share gains across the $2 trillion manufacturing industry, citing the company’s expanding international reach and growing instant quote capabilities across more product categories.
The $45 price target is based on approximately 3 times the company’s estimated 2026 revenue, reflecting JMP’s view that Xometry’s total addressable market is currently underappreciated by investors.
JMP Securities describes Xometry as a "multi-year compounder," suggesting the firm expects sustained growth over an extended period as the company continues to capture market share in the manufacturing sector.
In other recent news, Xometry reported impressive first-quarter results, with adjusted earnings per share reaching $0.02, surpassing analyst expectations of breakeven. The company’s revenue increased by 23% year-over-year to $150.97 million, exceeding the consensus forecast of $148.65 million. Xometry’s core marketplace revenue saw a 27% year-over-year increase, driven by strong growth among U.S. enterprise customers. Additionally, the company provided optimistic guidance for the second quarter, anticipating revenue of $155-157 million, aligning with analyst estimates. Xometry also raised its full-year 2025 marketplace growth outlook from at least 20% to at least 22%.
In financial maneuvers, Xometry announced a $250 million offering of Convertible Senior Notes due 2030, using $216.7 million to repurchase existing notes and $8 million to buy back shares of its common stock. The company aims to use the proceeds for strategic initiatives, including capped call transactions and share repurchases. Xometry expanded its Teamspace collaboration solution to Europe, the UK, and Turkey, enhancing operational efficiency for distributed teams. This extension is part of its strategy to drive deeper enterprise engagement and support long-term growth across its platform.
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