Xometry Inc (XMTR) PT Raised to $30 at Craig-Hallum

Craig-Hallum analyst Greg Palm raised the price target on Xometry Inc (NASDAQ: XMTR) to $30.00 (from $20.00) while maintaining a Buy rating.

The analyst commented: "Xometry reported strong quarterly results, highlighted by robust marketplace growth (+24% y/y) 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. As a result, the combination of outsized growth and now profitability could attract a new kind of investor to the stock, especially when cash flow goes positive (expected in the next few quarters). If execution continues, we would expect short interest to decline, offering up another upward catalyst to shares. We are raising our price target to $30 and continue to recommend shares to investors."

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