Xometry initiated with an Outperform at Wedbush

Wedbush initiated coverage of Xometry (XMTR) with an Outperform rating and $48 price target Xometry is the leading digital marketplace for custom manufacturing and operates in a “large and highly fragmented industry that has been slow to transition online,” the analyst tells investors in a research note. The firm says that with a growing network of buyers and suppliers and leading artificial intelligence pricing and matching algorithms, Xometry is well positioned to take share within the global custom manufacturing industry. Wedbush sees a “multi-year runway of relatively high growth” for the company.