Goldman Sachs analyst Eric Sheridan downgraded the rating on Xometry to a Hold today, setting a price target of $49.00.
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Eric Sheridan has given his Hold rating due to a combination of factors including the recent robust performance of Xometry’s stock and its current trading position. The stock has seen a significant increase of 124% over the last six months, which is considerably higher than the S&P 500’s rise of 23% during the same period. This strong performance has led the stock to trade near the upper end of its historical range since 2023.
While Xometry has shown consistent progress in scaling its marketplace solution and advancing its medium to long-term margin goals, the current valuation reflects a balanced risk-reward scenario. The updated 12-month price target of $49 suggests limited upside potential from current levels, prompting the downgrade from a Buy to a Neutral rating. This decision reflects a cautious stance given the stock’s recent appreciation and current market position.
In another report released on October 12, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $48.00 price target.