William Blair initiated research coverage of Xometry, Inc. (XMTR $75.29). Xometry is a leading marketplace for on-demand manufacturing, connecting customers with manufacturing partners that offer a wide range of services, including CNC machining, 3D printing, injection molding, and sheet metal fabrication.
“Management pegs Xometry’s global market opportunity at over $260 billion across six key manufacturing processes: CNC machining, sheet metal fabrication, 3D printing, die casting, injection molding, and urethane casting,” Drab said. “Although the size of the TAM may be debated, we believe the market opportunity is enormous relative to the current approximate $200 million annual revenue run-rate. Several macro trends are driving digital transformation of the manufacturing industry, and the pandemic has driven companies to reassess procurement. We believe Xometry will increasingly be leaned on as a dependable manufacturing partner.”
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Current Ratings Distribution (as of 7/23/21)
Outperform (Buy): 77%
Market Perform (Hold): 23%
Underperform (Sell): 1%
Inv. Banking Relationships*
Outperform (Buy): 30%
Market Perform (Hold): 11%
Underperform (Sell): 0%
* Percentage of companies in each rating category that are investment banking clients, defined as companies for which William Blair has received compensation for investment banking services within the past 12 months.
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