XMTR - Xometry: Downgrading To Hold As The Market Focus Has Shifted To The Near-Term Outlook
2024-03-22 12:12:42 ET
Summary
- I am downgrading my rating from buy to hold (neutral).
- The company's 4Q23 revenue was in line with guidance, but adjusted EBITDA fell short, impacting investor sentiment.
- Management's guidance for 1Q24 indicates a significant deceleration in growth, and the delay in meeting adj EBITDA target is not positive as well.