Matterport (NASDAQ:MTTR) PT Raised to $5.50

Matterport (NASDAQ:MTTR) had its price objective boosted by research analysts at Piper Sandler from $3.00 to $5.50 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential upside of 19.57% from the company’s current price.

Several other analysts have also issued reports on MTTR. Wedbush lowered their target price on Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. BTIG Research initiated coverage on Matterport in a research note on Friday, January 19th. They issued a “neutral” rating on the stock. Finally, Northland Securities initiated coverage on Matterport in a research note on Thursday, April 11th. They issued an “outperform” rating and a $3.50 target price on the stock. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Matterport has a consensus rating of “Hold” and a consensus price target of $4.50.

Matterport Trading Down 4.2 %

Shares of Matterport stock opened at $4.60 on Monday. The business’s fifty day simple moving average is $2.13 and its 200 day simple moving average is $2.31. The firm has a market capitalization of $1.43 billion, a P/E ratio of -6.97 and a beta of 1.73. Matterport has a 12 month low of $1.73 and a 12 month high of $4.99.

Matterport (NASDAQ:MTTR) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). The business had revenue of $39.55 million for the quarter, compared to analyst estimates of $40.11 million. Matterport had a negative return on equity of 36.35% and a negative net margin of 126.20%. Analysts predict that Matterport will post -0.45 EPS for the current fiscal year.

Insider Activity

In other news, CFO James Daniel Fay sold 25,000 shares of Matterport stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $2.26, for a total value of $56,500.00. Following the completion of the transaction, the chief financial officer now directly owns 1,404,944 shares in the company, valued at $3,175,173.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CRO Jay Remley sold 13,261 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $1.94, for a total transaction of $25,726.34. Following the completion of the transaction, the executive now directly owns 1,038,563 shares in the company, valued at $2,014,812.22. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $2.26, for a total value of $56,500.00. Following the transaction, the chief financial officer now owns 1,404,944 shares of the company’s stock, valued at $3,175,173.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 437,909 shares of company stock worth $884,072. 16.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Matterport

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 180 Wealth Advisors LLC purchased a new position in Matterport during the third quarter worth about $27,000. Droms Strauss Advisors Inc. MO ADV purchased a new position in shares of Matterport in the 4th quarter worth about $27,000. Apollon Wealth Management LLC purchased a new position in shares of Matterport in the 4th quarter worth about $28,000. Private Advisor Group LLC purchased a new position in shares of Matterport in the 4th quarter worth about $31,000. Finally, Choreo LLC purchased a new position in shares of Matterport in the 4th quarter worth about $33,000. 36.96% of the stock is currently owned by hedge funds and other institutional investors.

Matterport Company Profile

Matterport, Inc, a spatial data company, focuses on digitization and datafication in the United States and internationally. The company offers Matterport Capture Services, a fully managed solution for enterprise subscribers; Matterport Pro3, a 3D camera that scans properties; Matterport Pro2, a 3D camera that captures spaces; LEICA BLK360, a device to create digital twins; Smartphone Capture, a smartphone capture solution for both iOS and Android; and 360 Cameras.