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NORTH BETHESDA, Md. - Xometry, Inc. (NASDAQ:XMTR), a $2.47 billion market cap company with impressive revenue growth of 20.19% over the last twelve months, has expanded its AI-powered marketplace capabilities by introducing auto-quotes for injection molding services in the United States, the company announced Thursday in a press release. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, despite maintaining a healthy gross profit margin of 39.15%.
The new feature follows what the company described as a successful earlier launch in European markets. The auto-quoting system reduces the quoting process from days to minutes, allowing customers to move more quickly from design to finished parts. This operational efficiency has contributed to the company’s remarkable 97.56% stock price gain over the past six months.
"By removing friction and reducing wait times, we’re helping engineers and procurement teams make faster, smarter decisions," said Vaidy Raghavan, Xometry’s Chief Technology Officer.
The service enables businesses to manage their injection molding needs through Xometry’s AI-powered platform, from initial quoting to delivery and reordering. Customers can select from various options including prototype tooling, low-volume bridge tooling, and high-volume production tooling.
According to the company, the platform supports a range of part sizes in over 35 different materials, colors, and finishes. The service is designed to accommodate both prototyping needs and full-scale production requirements.
Xometry operates an AI-powered marketplace connecting buyers and suppliers of custom manufacturing services. The company also owns the Thomasnet industrial sourcing platform, which together with its other services aims to digitize manufacturing procurement processes. For deeper insights into Xometry’s growth trajectory and financial health, including 13 additional ProTips and comprehensive valuation metrics, visit InvestingPro to access the detailed Pro Research Report.
In other recent news, Xometry, Inc. reported strong second-quarter financial results, with revenue, gross margin, and EBITDA surpassing analyst expectations. UBS responded to these results by raising its price target for Xometry from $35 to $40, while maintaining a Neutral rating. Citizens JMP also increased its price target to $50 from $45, citing the company’s better-than-expected financial performance, with revenue and EBITDA exceeding guidance by $5.5 million and $1.9 million, respectively. Additionally, Goldman Sachs downgraded Xometry from Buy to Neutral, despite raising the price target to $49, due to the stock’s recent strong performance.
Moreover, Xometry launched a new Workcenter Mobile App for its manufacturing partners, enhancing the management of job offers and production workflows. Citizens JMP reiterated its Market Outperform rating, maintaining a $50 price target based on positive trends in AI adoption, highlighted by Xometry’s Manufacturing Outlook survey. The survey found that 82% of manufacturing executives view artificial intelligence as a crucial growth driver. These developments reflect ongoing strategic moves and market reactions within Xometry’s operational landscape.
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