Matterport (NASDAQ:MTTR) Releases FY 2022 Earnings Guidance

Matterport (NASDAQ:MTTR – Get Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of -$0.52–$0.47 for the period, compared to the consensus EPS estimate of -$0.50. The company issued revenue guidance of $125.00 million-$135.00 million, compared to the consensus revenue estimate of $129.23 million.Matterport also updated its Q2 2022 guidance to -$0.15–$0.13 EPS.

Shares of NASDAQ MTTR opened at $5.06 on Tuesday. The company has a 50 day simple moving average of $6.81 and a two-hundred day simple moving average of $13.64. Matterport has a fifty-two week low of $3.94 and a fifty-two week high of $37.60. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -2.65 and a beta of 1.60.

Matterport (NASDAQ:MTTR – Get Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.04. The company had revenue of $28.51 million for the quarter, compared to the consensus estimate of $27.47 million. Matterport had a negative return on equity of 53.37% and a negative net margin of 233.50%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) EPS. As a group, research analysts forecast that Matterport will post -1.78 earnings per share for the current year.

Several research firms have recently issued reports on MTTR. Zacks Investment Research raised Matterport from a hold rating to a buy rating and set a $7.75 price target for the company in a research report on Saturday, February 26th. Wedbush downgraded shares of Matterport from an outperform rating to a neutral rating and dropped their target price for the stock from $10.00 to $6.00 in a research note on Tuesday, May 3rd. Piper Sandler reduced their price target on shares of Matterport from $10.00 to $7.00 in a research report on Friday, April 29th. Credit Suisse Group lowered their price objective on Matterport from $23.00 to $13.00 and set an outperform rating on the stock in a research report on Thursday, March 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Matterport from $9.00 to $7.00 in a report on Wednesday, May 11th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Matterport currently has a consensus rating of Buy and an average target price of $11.84.

In other news, CEO Raymond J. Pittman acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 24th. The stock was bought at an average price of $6.61 per share, with a total value of $132,200.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada bought a new stake in shares of Matterport during the 3rd quarter valued at $582,000. LPL Financial LLC bought a new stake in Matterport during the third quarter valued at about $1,072,000. UBS Group AG bought a new stake in Matterport during the third quarter valued at about $1,182,000. Captrust Financial Advisors purchased a new stake in Matterport in the third quarter worth about $34,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Matterport in the third quarter worth about $1,464,000. 41.53% of the stock is currently owned by institutional investors.

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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