UBS analyst Karl Keirstead is keeping a Neutral rating on Xometry (NASDAQ: XMTR) as of March 13, 2024. He has revised the price target down to $21 from $22, citing a softer revenue forecast for the company.
Keirstead, known for his accuracy in stock analysis, covers 29 stocks with a success rate of 65.71% and an average return of 18.8%.
XMTR Stock Plummets on March 13, 2024, Trading Near 52-Week Low
On March 13, 2024, XMTR stock experienced a decline in its performance, trading near the bottom of its 52-week range and below its 200-day simple moving average. The stock opened at $17.91, which was $0.16 lower than its previous close. Throughout the trading day, the price of XMTR shares continued to drop, decreasing by $0.50 or 2.77% since the market last closed.
XMTR Stock Analysis: Promising Revenue Growth and Improved EPS on March 13, 2024
On March 13, 2024, XMTR stock showed promising performance based on the financial data provided by CNN Money. The company reported a total revenue of $463.41 million for the past year, showing a 21.61% increase compared to the previous year. In the fourth quarter, XMTR generated $128.15 million in total revenue, which represents a 7.75% increase from the previous quarter.
Despite the positive revenue growth, XMTR reported a net income of -$67.47 million for the year, with a smaller net loss of -$10.55 million in the fourth quarter. The net income increased by 11.25% compared to the previous year, but remained stable from the previous quarter. Earnings per share (EPS) also improved, with a reported EPS of -$1.41 for the year and -$0.22 for the fourth quarter. The EPS increased by 12.65% since last year and by 12.42% since the previous quarter.
Overall, XMTR stock showed resilience and growth in its financial performance on March 13, 2024. The increase in total revenue and EPS indicates that the company is on the right track towards profitability. Investors may view these positive financial indicators as a sign of potential future growth and may consider investing in XMTR stock. However, it is important to conduct further research and analysis before making any investment decisions.
