Craig-Hallum raised the firm’s price target on Xometry (XMTR) to $30 from $20 and keeps a Buy rating on the shares. The firm notes Xometry reported strong quarterly results, highlighted by robust marketplace growth even amidst a soft manufacturing environment. Importantly, the company approached EBITDA profitability in the quarter and guided for profitability in Q4, which represents a major milestone for the company, Craig-Hallum adds. As a result, the firm believes the combination of outsized growth and now profitability could attract a new kind of investor to the stock, especially when cash flow goes positive.
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Read More on XMTR:
- Xometry price target raised to $27 from $23 at RBC Capital
- Xometry price target raised to $33 from $25 at Citi
- Xometry, Inc. Reports Strong Q3 2024 Growth
- Xometry reports Q3 non-GAAP EPS 2c, consensus (2c)
- Xometry sees Q4 revenue $145M-$147M, consensus $145.93M
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
