UPDATE: JPMorgan Starts Xometry Inc (XMTR) at Overweight

JPMorgan analyst Sterling Auty initiates coverage on Xometry Inc (NASDAQ: XMTR) with a Overweight rating and a price target of $100.00.

The analyst comments "Xometry is an AI-enabled digital marketplace for the manufacturing industry, serving a $260B market. Manufacturers looking to source parts from around the world can simply go onto the website, upload a CAD file, and receive an instant quote for the parts needed. While there are a number of other companies offering similar services, these companies typically are constrained by either owning the manufacturing facilities, having a much smaller network of manufacturing partners, not having the geographic reach, or operating in fewer manufacturing subsectors. Xometry leverages its artificial intelligence platform to maximize margins, which brings execution risk as the company scales but also distinguishes it as the leading pure play marketplace in the industry."

For an analyst ratings summary and ratings history on Xometry Inc click here. For more ratings news on Xometry Inc click here.

Shares of Xometry Inc closed at $74.66 yesterday.

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