Shares of Xometry may be poised for more upside in the coming months, according to JPMorgan. Analyst Cory Carpenter upgraded the artificial intelligence-driven industrial market from overweight to neutral, raising his price target by $20 to $45. That updated target reflects an increase of about 21% from Tuesday’s close. “We are now bullish as we expect XMTR’s stock gains to accelerate in an environment of tariff/supply chain uncertainty, coupled with company-specific growth initiatives (ie, enterprise, budget instant, international), a turnaround in recent macro indicators ( i.e. new ISM orders, small business sentiment), the potential for more onshoring push under the new administration, and plenty of “ways to win” from CFO James Miln’s improved execution 2025,” the analyst said in a note to clients on Wednesday. XMTR 1Y Mount Xometry, Year 1 Looking ahead next year, Carpenter predicts the company’s total revenue growth will increase to 19%, up 2% from 2024’s 17% growth. He also stated that the company expects to publish. Positive adjusted EBITDA for the year, seeing an increase in margins of around 20% from that. “We believe XMTR is one of the best secular growth stories in our coverage universe over the next three to five years, with the biggest risks in 2025 being further contraction in the US manufacturing industry and limited valuation support,” Carpenter said. Wall Street mostly bullish on the name as well. Of the 10 analysts surveyed, six have a buy or strong buy rating, according to LSEG data. Meanwhile, three have a retention grade. Xometry manufactures industrial parts on demand using 3D printing and other technologies. AI expands its price quote engine. Although the stock is up more than 3% this year, it has beaten the broader market in recent months, with a one-month gain of more than 25% and a six-month gain of more than 196%. After Carpenter’s call, shares rose about 4% in premarket trading on Wednesday.
