Matterport, Inc. (NASDAQ:MTTR – Get Free Report) shares gapped up before the market opened on Tuesday after Piper Sandler raised their price target on the stock from $2.00 to $2.50. The stock had previously closed at $2.12, but opened at $2.21. Piper Sandler currently has a neutral rating on the stock. Matterport shares last traded at $2.51, with a volume of 1,552,128 shares traded.
MTTR has been the topic of several other reports. Deutsche Bank Aktiengesellschaft lifted their target price on Matterport from $3.00 to $3.50 in a report on Wednesday, August 9th. 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.
Insider Activity at Matterport
Institutional Investors Weigh In On Matterport
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of Matterport by 202.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 8,372 shares of the company’s stock valued at $26,000 after purchasing an additional 5,604 shares during the last quarter. Ibex Wealth Advisors bought a new position in Matterport during the 1st quarter valued at about $27,000. 180 Wealth Advisors LLC bought a new position in Matterport in the 3rd quarter worth about $27,000. Avantax Advisory Services Inc. bought a new position in Matterport in the 1st quarter worth about $29,000. Finally, Arete Wealth Advisors LLC purchased a new stake in shares of Matterport in the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 30.52% of the company’s stock.
Matterport Trading Up 25.9 %
The firm’s 50-day moving average price is $2.24 and its two-hundred day moving average price is $2.67. The stock has a market cap of $805.94 million, a PE ratio of -3.42 and a beta of 1.63.
Matterport (NASDAQ:MTTR – Get Free Report) last posted its earnings results on Tuesday, August 8th. The company reported ($0.19) EPS for the quarter, meeting analysts’ consensus estimates of ($0.19). Matterport had a negative net margin of 146.13% and a negative return on equity of 39.63%. The company had revenue of $39.57 million during the quarter, compared to analysts’ expectations of $39.22 million. On average, analysts anticipate that Matterport, Inc. will post -0.72 earnings per share for the current year.
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.
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