Matterport (NASDAQ:MTTR) Earns Equal Weight Rating from Analysts at Morgan Stanley

Equities research analysts at Morgan Stanley initiated coverage on shares of Matterport (NASDAQ:MTTRGet Rating) in a research report issued to clients and investors on Tuesday, Briefing.com reports. The firm set an “equal weight” rating and a $9.00 price target on the stock. Morgan Stanley’s price objective would indicate a potential upside of 35.34% from the stock’s current price.

MTTR has been the subject of a number of other research reports. Piper Sandler decreased their price objective on shares of Matterport from $26.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, February 17th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Matterport from $14.00 to $9.00 in a report on Friday, February 18th. Zacks Investment Research upgraded shares of Matterport from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a report on Saturday, February 26th. Wedbush reduced their price target on shares of Matterport from $38.00 to $10.00 in a report on Thursday, February 17th. Finally, Credit Suisse Group reduced their price objective on shares of Matterport from $23.00 to $13.00 and set an “outperform” rating for the company in a research note on Thursday, March 24th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $12.97.

MTTR opened at $6.65 on Tuesday. The company has a fifty day moving average of $7.53 and a 200 day moving average of $15.52. Matterport has a fifty-two week low of $5.71 and a fifty-two week high of $37.60.

Matterport (NASDAQ:MTTRGet Rating) last released its quarterly earnings results on Wednesday, February 16th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.08). The company had revenue of $27.09 million for the quarter, compared to analysts’ expectations of $25.14 million. Matterport’s revenue was up 14.8% compared to the same quarter last year. As a group, research analysts predict that Matterport will post -1.78 EPS for the current year.

In other Matterport news, CEO Raymond J. Pittman acquired 20,000 shares of the stock in a transaction dated Thursday, February 24th. The stock was acquired at an average price of $6.61 per share, with a total value of $132,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Large investors have recently modified their holdings of the stock. Senator Investment Group LP acquired a new stake in Matterport during the third quarter worth approximately $66,185,000. Senvest Management LLC purchased a new position in shares of Matterport during the third quarter worth approximately $861,000. Citigroup Inc. purchased a new position in Matterport in the 3rd quarter valued at $236,000. The Manufacturers Life Insurance Company purchased a new position in Matterport in the 3rd quarter valued at $419,000. Finally, Castle Rock Wealth Management LLC purchased a new position in Matterport in the 4th quarter valued at $105,000. 33.26% of the stock is currently owned by hedge funds and other institutional investors.

About Matterport (Get Rating)

Matterport, Inc, a spatial data company, focuses on digitizing and indexing the built world. It offers Matterport digital twins, a 3D data platform to design, build, operate, promote, and understand spaces. The company offers Matterport Capture, an application that enables to capture depth, data, and imagery of a space using 3D cameras, 360 cameras, and iPhones; Matterport Workshop application to customize, add additional details, and share spaces; Matterport Showcase application for audience view and explore space in its final format; and Matterport VR to experience virtual reality.

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Analyst Recommendations for Matterport (NASDAQ:MTTR)

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