Xometry price target raised to $20 from $12 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Xometry (XMTR) to $20 from $12 and keeps an Underweight rating on the shares. Xometry posted better-than-expected December quarter results with quarterly records for revenue, gross profit, Marketplace gross margin, and Supplier Services gross margin, but Q1 guidance was mostly below expectations, the analyst tells investors in a research note. Cantor remains cautious regarding Xometry shares given its high degree of exposure to prototyping applications, pending debt payment or refinancing event, and a balance sheet that has $240M in cash and $283M of debt.