Matterport, Inc. (NASDAQ:MTTR – Get Free Report) shares saw an uptick in trading volume on Tuesday after Piper Sandler raised their price target on the stock from $3.00 to $5.50. Piper Sandler currently has a neutral rating on the stock. 7,308,634 shares traded hands during trading, an increase of 116% from the previous session’s volume of 3,387,118 shares.The stock last traded at $4.71 and had previously closed at $4.80.
A number of other research firms also recently commented on MTTR. BTIG Research began coverage on shares of Matterport in a report on Friday, January 19th. They issued a “neutral” rating for the company. Wedbush cut their price objective on shares of Matterport from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Finally, Northland Securities began coverage on shares of Matterport in a report on Thursday, April 11th. They issued an “outperform” rating and a $3.50 price objective for the company. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Matterport currently has a consensus rating of “Hold” and a consensus target price of $4.50.
Read Our Latest Stock Analysis on MTTR
Insider Activity
Hedge Funds Weigh In On Matterport
A number of hedge funds have recently made changes to their positions in MTTR. SG Americas Securities LLC acquired a new stake in Matterport during the 3rd quarter worth approximately $559,000. Exchange Traded Concepts LLC raised its holdings in shares of Matterport by 6.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,095,413 shares of the company’s stock valued at $6,717,000 after purchasing an additional 178,460 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Matterport by 132.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 272,367 shares of the company’s stock worth $591,000 after acquiring an additional 154,961 shares in the last quarter. Raymond James & Associates raised its stake in Matterport by 7.2% during the 3rd quarter. Raymond James & Associates now owns 294,342 shares of the company’s stock worth $639,000 after acquiring an additional 19,760 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Matterport by 54.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,941 shares of the company’s stock worth $130,000 after acquiring an additional 21,179 shares in the last quarter. Hedge funds and other institutional investors own 36.96% of the company’s stock.
Matterport Trading Down 4.2 %
The stock’s 50-day moving average is $2.13 and its 200-day moving average is $2.31. The stock has a market cap of $1.43 billion, a P/E ratio of -6.97 and a beta of 1.73.
Matterport (NASDAQ:MTTR – Get Free Report) last released its earnings results on Tuesday, February 20th. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14). The business had revenue of $39.55 million for the quarter, compared to the consensus estimate of $40.11 million. Matterport had a negative net margin of 126.20% and a negative return on equity of 36.35%. On average, equities analysts forecast that Matterport, Inc. will post -0.45 EPS for the current year.
About Matterport
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.
Featured Stories
- Five stocks we like better than Matterport
- What is an Earnings Surprise?
- Charles Schwab Fortifies its Uptrend on EPS Beat
- Want to Profit on the Downtrend? Downtrends, Explained.
- Lockheed Martin Stock Aims for a Fresh All-Time High
- What is the S&P 500 and How It is Distinct from Other Indexes
- Beyond the Halving: The Future of Bitcoin Mining Stocks
Receive News & Ratings for Matterport Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matterport and related companies with MarketBeat.com's FREE daily email newsletter.