Matterport (NASDAQ:MTTR) Price Target Increased to $2.50 by Analysts at Piper Sandler

Matterport (NASDAQ:MTTR) had its target price upped by Piper Sandler from $2.00 to $2.50 in a research report report published on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

MTTR has been the subject of a number of other research reports. Morgan Stanley boosted their price objective on Matterport from $3.00 to $3.50 and gave the company an equal weight rating in a research note on Friday, August 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on Matterport from $3.00 to $3.50 in a research note on Wednesday, August 9th.

Matterport Stock Up 25.9 %

MTTR stock opened at $2.67 on Tuesday. The business has a 50 day moving average price of $2.24 and a 200 day moving average price of $2.67. The stock has a market cap of $805.94 million, a price-to-earnings ratio of -3.42 and a beta of 1.63. Matterport has a fifty-two week low of $1.84 and a fifty-two week high of $4.07.

Matterport (NASDAQ:MTTR) last posted its earnings results on Tuesday, August 8th. The company reported ($0.19) earnings per share for the quarter, hitting the consensus estimate of ($0.19). Matterport had a negative return on equity of 39.63% and a negative net margin of 146.13%. The firm had revenue of $39.57 million during the quarter, compared to analysts’ expectations of $39.22 million. As a group, sell-side analysts anticipate that Matterport will post -0.72 EPS for the current year.

Insider Transactions at Matterport

In other news, CEO Raymond J. Pittman sold 273,720 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $2.61, for a total transaction of $714,409.20. Following the completion of the sale, the chief executive officer now owns 2,669,423 shares in the company, valued at $6,967,194.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Matterport news, Director Peter Hebert acquired 50,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was purchased at an average price of $2.50 per share, for a total transaction of $125,000.00. Following the completion of the transaction, the director now owns 279,793 shares of the company’s stock, valued at approximately $699,482.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Raymond J. Pittman sold 273,720 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $2.61, for a total value of $714,409.20. Following the completion of the transaction, the chief executive officer now owns 2,669,423 shares of the company’s stock, valued at approximately $6,967,194.03. The disclosure for this sale can be found here. Insiders sold 497,981 shares of company stock worth $1,299,730 over the last 90 days. 16.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Barclays PLC raised its position in Matterport by 21.0% in the third quarter. Barclays PLC now owns 120,020 shares of the company’s stock worth $260,000 after acquiring an additional 20,824 shares in the last quarter. Jump Financial LLC purchased a new position in Matterport in the third quarter worth $55,000. Wealthspire Advisors LLC raised its position in Matterport by 46.6% in the third quarter. Wealthspire Advisors LLC now owns 117,719 shares of the company’s stock worth $255,000 after acquiring an additional 37,419 shares in the last quarter. Principal Financial Group Inc. raised its position in Matterport by 39.1% in the third quarter. Principal Financial Group Inc. now owns 37,071 shares of the company’s stock worth $80,000 after acquiring an additional 10,427 shares in the last quarter. Finally, 180 Wealth Advisors LLC purchased a new position in Matterport in the third quarter worth $27,000. Hedge funds and other institutional investors own 30.52% of the company’s stock.

Matterport Company Profile

Matterport, Inc, a spatial data company, focuses on digitization and datafication of the built world. The company offers Matterport Capture Services, a fully managed solution for enterprise subscribers; Smartphone Capture, a smartphone capture solution for both iOS and Android; Matterport Pro3, a 3D camera that scans properties; Matterport Pro2, a 3D camera that captures spaces; and 360 Cameras.