Xometry, Inc. XMTR shares rallied 14.2% in the last trading session to close at $22.48. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 12.4% gain over the past four weeks.
Xometry’s rally is primarily driven by optimism regarding increased marketplace revenues due to rising buyer activity on the platform. Easing supply chain disruptions also bode well.
This marketplace for on-demand manufacturing is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $137.17 million, up 15.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Xometry, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on XMTR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Xometry belongs to the Zacks Manufacturing - General Industrial industry. Another stock from the same industry, Trimble Navigation (TRMB), closed the last trading session 1.2% higher at $61.21. Over the past month, TRMB has returned -1.8%.
For Trimble
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
