15 AI Stocks That Skyrocketed in Q4

12. Xometry, Inc. (NASDAQ:XMTR)

Number of Hedge Fund Holders: 7

Stock Price Performance in Q4 2024: ~132%

Xometry, Inc. (NASDAQ:XMTR) operates an online marketplace that connects buyers with suppliers of custom-manufactured parts and assemblies. The company offers a variety of services, including CNC manufacturing, 3D printing, die casting, injection molding, and rapid prototyping. Xometry serves industries such as aerospace, healthcare, robotics, automotive, and defense. The company uses big data and machine learning algorithms to optimize pricing and sourcing in custom part manufacturing. The company’s AI-driven platform uses a vast dataset to provide predictive pricing and matchmaking that improve lead times and prices over time.

Several factors were responsible for Xometry’s (NASDAQ:XMTR) stock performance including its Q3 results where it reported a non-GAAP EPS of $0.02, exceeding estimates by $0.07, with revenue reaching $141.7 million, up 19.1% year-over-year and surpassing expectations by $3.98 million. The stock also shot up after President-elect Donald Trump’s victory as industrial distributors like Xometry (NASDAQ:XMTR) gained because investors anticipated benefits from Trump’s proposed policies on domestic manufacturing, tariffs, tax cuts, and regulation.

Wedbush initiated coverage of Xometry on December 20 with an Outperform rating and a $48 price target, as it noted its leadership in the digital custom manufacturing marketplace. The firm highlighted the industry’s slow shift online and credited the company’s expanding buyer and supplier network, along with advanced AI-driven pricing and matching algorithms, as key strengths. Wedbush expects sustained high growth for Xometry over the coming years.