Xometry

XMTR · NASDAQ

$93.64+$2.18 (+2.38%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $91.46

XMTR analyst rating

BuyConsensus of 11 analysts over the last 12 months. 73% rate it a buy.

Strong buy0
Buy8
Hold3
Underperform0
Sell0

12-month price target · 13 analysts

Average $113.53 (+21.2% upside)

Low: $95.95
Now: $93.64
High: $132.30

Upgrades and downgrades

The latest rating actions, newest first

XMTR analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Rosenblatt	Sep 22, 2026	Maintains	Buy	$110.00 → $120.00	62%
Citizens	Sep 21, 2026	Maintains	Market Outperform	$120.00	54%
JP Morgan	Aug 24, 2026	Initiates	Overweight	$120.00	27%
Rosenblatt	Aug 20, 2026	Initiates	Buy	$110.00	62%
UBS	Aug 5, 2026	Maintains	Neutral	$88.00 → $95.00	51%
Citigroup	Aug 5, 2026	Maintains	Buy	$98.00 → $110.00	56%
RBC Capital	Aug 5, 2026	Maintains	Sector Perform	$85.00 → $100.00	32%
Goldman Sachs	Aug 5, 2026	Maintains	Neutral	$78.00 → $104.00	75%
Cantor Fitzgerald	Aug 5, 2026	Maintains	Overweight	$85.00 → $110.00	47%
Wedbush	Jul 16, 2026	Initiates	Outperform	$126.00	58%

The case for and against

Updated Oct 18, 2026

Bull case

Xometry is supported by a scalable, asset-light marketplace that is still early in a very large, fragmented manufacturing TAM, with management estimating more than $260 billion across six core processes and believing penetration remains low. Its outlook is strengthened by accelerating marketplace revenue growth of 45% year over year in 2Q, raised full-year guidance to 33%-34%, and expanding enterprise adoption, including $50K+ accounts above 2,000, $500K+ accounts above 140, and revenue per buyer up 21% year over year. Strategic wins such as the Siemens partnership, improving AI-driven pricing and matching, and roughly 35% marketplace gross margin with a path toward 40%-45% all point to durable growth and operating leverage, especially as international revenue scales from a high-teens share of total revenue.

Bear case

Xometry is facing a challenging fundamental setup because its growth depends on scaling buyers, suppliers, enterprise penetration, and international expansion while operating in a fragmented market where competition is intensifying and macro demand can weaken. The company also remains exposed to tariff and regulatory risk, commodity price volatility that can swing the AI quoting engine and gross margin, and potential customer concentration from its focus on top 200 accounts, making execution on long-term margin targets difficult. Even with the Siemens partnership, revenue contribution is not expected until 2027 and will ramp over several years, while a downside case implies gross margins 250 bps lower and revenue growth 500 bps lower than CY/26 and CY/27 estimates.

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