Xometry price target raised to $30 from $20 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Xometry (XMTR) to $30 from $20 and keeps a Buy rating on the shares. The firm notes Xometry reported strong quarterly results, highlighted by robust marketplace growth 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, Craig-Hallum adds. As a result, the firm believes the combination of outsized growth and now profitability could attract a new kind of investor to the stock, especially when cash flow goes positive.