Matterport (NASDAQ:MTTR) Announces Earnings Results

Matterport (NASDAQ:MTTRGet Rating) announced its quarterly earnings results on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.04, MarketWatch Earnings reports. The firm had revenue of $28.51 million during the quarter, compared to analyst estimates of $27.47 million. Matterport’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm earned ($0.01) EPS.

MTTR stock traded up $0.32 during midday trading on Wednesday, reaching $4.58. The company had a trading volume of 158,191 shares, compared to its average volume of 10,318,979. Matterport has a 1 year low of $3.94 and a 1 year high of $37.60. The firm has a 50-day moving average price of $6.98 and a 200-day moving average price of $14.03.

In other news, CEO Raymond J. Pittman purchased 20,000 shares of the stock in a transaction that occurred on Thursday, February 24th. The stock was bought at an average cost of $6.61 per share, for a total transaction of $132,200.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

A number of large investors have recently bought and sold shares of the business. ProShare Advisors LLC grew its position in Matterport by 30.3% in the first quarter. ProShare Advisors LLC now owns 17,313 shares of the company’s stock worth $140,000 after acquiring an additional 4,031 shares in the last quarter. BlackRock Inc. boosted 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 purchasing an additional 736,624 shares during the last quarter. Visionary Wealth Advisors acquired a new position in shares of Matterport in the fourth quarter worth about $205,000. Wells Fargo & Company MN raised its position in shares of Matterport by 110.4% during the 4th quarter. Wells Fargo & Company MN now owns 372,512 shares of the company’s stock worth $7,689,000 after purchasing an additional 195,445 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Matterport by 189.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 64,282 shares of the company’s stock valued at $1,327,000 after acquiring an additional 42,107 shares during the last quarter. 41.53% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have commented on MTTR. Deutsche Bank Aktiengesellschaft cut their price target on shares of Matterport from $9.00 to $7.00 in a research report on Wednesday. Piper Sandler dropped their target price on shares of Matterport from $10.00 to $7.00 in a report on Friday, April 29th. Credit Suisse Group decreased their price target on shares of Matterport from $23.00 to $13.00 and set an “outperform” rating on the stock in a research note on Thursday, March 24th. Morgan Stanley assumed coverage on shares of Matterport in a research report on Tuesday, April 19th. They set an “equal weight” rating and a $9.00 target price on the stock. Finally, Zacks Investment Research upgraded 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Matterport presently has a consensus rating of “Buy” and a consensus target price of $11.84.

Matterport Company Profile (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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