Matterport (NASDAQ:MTTR) Rating Reiterated by Loop Capital

Matterport (NASDAQ:MTTR)‘s stock had its “hold” rating reiterated by equities researchers at Loop Capital in a report released on Tuesday, Benzinga reports. They currently have a $5.50 price target on the stock, up from their prior price target of $5.00. Loop Capital’s target price indicates a potential upside of 18.53% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on MTTR. Piper Sandler upped their target price on Matterport from $3.00 to $5.50 and gave the stock a “neutral” rating in a research report on Monday. BTIG Research initiated coverage on shares of Matterport in a research report on Friday, January 19th. They set a “neutral” rating for the company. Northland Securities assumed coverage on shares of Matterport in a report on Thursday, April 11th. They set an “outperform” rating and a $3.50 price target for the company. Finally, Wedbush lowered their target price on Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Matterport presently has an average rating of “Hold” and an average price target of $4.50.

Matterport Stock Performance

NASDAQ MTTR opened at $4.64 on Tuesday. The firm’s 50 day moving average price is $2.18 and its two-hundred day moving average price is $2.33. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -7.03 and a beta of 1.73. Matterport has a twelve month low of $1.73 and a twelve month high of $4.99.

Matterport (NASDAQ:MTTR) last posted its earnings results on Tuesday, February 20th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). The company had revenue of $39.55 million during 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, research analysts forecast that Matterport will post -0.45 EPS for the current fiscal year.

Insider Activity

In other Matterport news, CFO James Daniel Fay sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $2.26, for a total value of $56,500.00. Following the completion of the sale, the chief financial officer now owns 1,404,944 shares of the company’s stock, valued at $3,175,173.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CRO Jay Remley sold 13,261 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $1.94, for a total transaction of $25,726.34. Following the completion of the sale, the executive now owns 1,038,563 shares of the company’s stock, valued at $2,014,812.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $2.26, for a total value of $56,500.00. Following the completion of the sale, the chief financial officer now owns 1,404,944 shares in the company, valued at $3,175,173.44. The disclosure for this sale can be found here. Insiders sold a total of 437,909 shares of company stock valued at $884,072 in the last ninety days. 16.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MTTR. Barclays PLC boosted its holdings in shares of Matterport by 21.0% during the 3rd quarter. Barclays PLC now owns 120,020 shares of the company’s stock worth $260,000 after buying an additional 20,824 shares during the period. Vanguard Group Inc. grew its stake in Matterport by 1.3% during the third quarter. Vanguard Group Inc. now owns 23,383,072 shares of the company’s stock worth $50,741,000 after buying an additional 306,958 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Matterport by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,864,667 shares of the company’s stock worth $4,046,000 after acquiring an additional 90,581 shares in the last quarter. 180 Wealth Advisors LLC bought a new position in shares of Matterport in the 3rd quarter valued at $27,000. Finally, Dark Forest Capital Management LP acquired a new position in Matterport during the third quarter worth about $291,000. Institutional investors own 36.96% of the company’s stock.

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.