Matterport (NASDAQ:MTTR) Updates Q2 2022 Earnings Guidance

Matterport (NASDAQ:MTTRGet Rating) updated its second quarter 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of -$0.15–$0.13 for the period, compared to the consensus earnings per share estimate of -$0.12. The company issued revenue guidance of $28.50 million-$30.50 million, compared to the consensus revenue estimate of $31.00 million.Matterport also updated its FY 2022 guidance to -$0.52–$0.47 EPS.

A number of equities research analysts recently issued reports on MTTR shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Matterport from $14.00 to $9.00 in a research report on Friday, February 18th. Piper Sandler reduced their price target on shares of Matterport from $10.00 to $7.00 in a research report on Friday, April 29th. Wedbush cut shares of Matterport from an outperform rating to a neutral rating and reduced their price target for the company from $10.00 to $6.00 in a research report on Tuesday, May 3rd. Zacks Investment Research raised shares of Matterport from a hold rating to a buy rating and set a $7.75 price target on the stock in a research report on Saturday, February 26th. Finally, Credit Suisse Group reduced their price target on shares of Matterport from $23.00 to $13.00 and set an outperform rating on the stock in a research report on Thursday, March 24th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Matterport presently has an average rating of Buy and a consensus price target of $12.09.

Shares of NASDAQ MTTR traded up $0.09 during trading on Tuesday, reaching $4.26. 13,237,463 shares of the stock were exchanged, compared to its average volume of 10,318,979. The business’s 50-day moving average price is $7.04 and its 200 day moving average price is $14.14. Matterport has a twelve month low of $3.94 and a twelve month high of $37.60.

Matterport (NASDAQ:MTTRGet Rating) last posted its 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 firm had revenue of $27.09 million for the quarter, compared to analyst estimates of $25.14 million. The business’s revenue was up 14.8% compared to the same quarter last year. On average, research analysts expect that Matterport will post -1.55 EPS for the current fiscal year.

In related news, CEO Raymond J. Pittman purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 24th. The shares were purchased at an average cost of $6.61 per share, with a total value of $132,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

A number of institutional investors and hedge funds have recently bought and sold shares of MTTR. BlackRock Inc. raised its holdings in Matterport by 29.3% in the fourth quarter. BlackRock Inc. now owns 3,253,486 shares of the company’s stock valued at $67,152,000 after acquiring an additional 736,624 shares in the last quarter. Wells Fargo & Company MN increased its stake in Matterport by 110.4% during the fourth quarter. Wells Fargo & Company MN now owns 372,512 shares of the company’s stock valued at $7,689,000 after purchasing an additional 195,445 shares during the last quarter. Millennium Management LLC bought a new stake in Matterport during the fourth quarter valued at $3,027,000. State Street Corp increased its stake in Matterport by 18.5% during the fourth quarter. State Street Corp now owns 675,696 shares of the company’s stock valued at $13,946,000 after purchasing an additional 105,396 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Matterport by 733.2% during the fourth quarter. JPMorgan Chase & Co. now owns 103,627 shares of the company’s stock valued at $2,140,000 after purchasing an additional 91,190 shares during the last quarter. 41.53% 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 digitization and datafication of 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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Earnings History and Estimates for Matterport (NASDAQ:MTTR)

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