Xometry price target raised to $42 from $34 at JMP Securities

JMP Securities raised the firm’s price target on Xometry (XMTR) to $42 from $34 and keeps an Outperform rating on the shares. The stock price has quickly appreciated following the Q3 results and the U.S. Presidential election with the increase being driven by multiple expansion, which is a function of increasing out-year expectations by the buy-side, and investors increasingly considering vertical SaaS businesses when valuing the stock, the analyst says.