Matterport (NASDAQ:MTTR) Hits New 1-Year High on Analyst Upgrade

Matterport, Inc. (NASDAQ:MTTR) reached a new 52-week high during trading on Monday after Piper Sandler raised their price target on the stock from $3.00 to $5.50. Piper Sandler currently has a neutral rating on the stock. Matterport traded as high as $4.99 and last traded at $4.72, with a volume of 33519075 shares changing hands. The stock had previously closed at $1.74.

MTTR has been the topic of a number of other reports. BTIG Research initiated coverage on shares of Matterport in a research report on Friday, January 19th. They issued a “neutral” rating on the stock. Northland Securities initiated coverage on shares of Matterport in a research report on Thursday, April 11th. They issued an “outperform” rating and a $3.50 target price on the stock. Finally, Wedbush dropped their target price on shares of Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.50.

Insiders Place Their Bets

In other Matterport news, CEO Raymond J. Pittman sold 72,096 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $2.02, for a total transaction of $145,633.92. Following the transaction, the chief executive officer now directly owns 3,375,510 shares of the company’s stock, valued at approximately $6,818,530.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Matterport news, CEO Raymond J. Pittman sold 72,096 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $2.02, for a total transaction of $145,633.92. Following the transaction, the chief executive officer now directly owns 3,375,510 shares of the company’s stock, valued at approximately $6,818,530.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $2.26, for a total transaction of $56,500.00. Following the completion of the sale, the chief financial officer now owns 1,404,944 shares of the company’s stock, valued at approximately $3,175,173.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 437,909 shares of company stock valued at $884,072. Insiders own 16.10% of the company’s stock.

Institutional Trading of Matterport

Hedge funds have recently made changes to their positions in the company. 180 Wealth Advisors LLC acquired a new stake in shares of Matterport in the 3rd quarter worth $27,000. Droms Strauss Advisors Inc. MO ADV acquired a new stake in shares of Matterport in the 4th quarter worth $27,000. Apollon Wealth Management LLC acquired a new stake in shares of Matterport in the 4th quarter worth $28,000. Private Advisor Group LLC acquired a new stake in shares of Matterport in the 4th quarter worth $31,000. Finally, Choreo LLC acquired a new stake in shares of Matterport in the 4th quarter worth $33,000. Institutional investors and hedge funds own 36.96% of the company’s stock.

Matterport Trading Down 4.2 %

The company has a market cap of $1.43 billion, a price-to-earnings ratio of -6.97 and a beta of 1.73. The company’s 50 day moving average price is $2.13 and its 200 day moving average price is $2.31.

Matterport (NASDAQ:MTTR) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). Matterport had a negative net margin of 126.20% and a negative return on equity of 36.35%. The firm had revenue of $39.55 million during the quarter, compared to analysts’ expectations of $40.11 million. Sell-side analysts predict that Matterport, Inc. will post -0.45 earnings per share for the current year.

About Matterport

Matterport, Inc, a spatial data company, focuses on digitization and datafication in the United States and internationally. The company offers Matterport Capture Services, a fully managed solution for enterprise subscribers; Matterport Pro3, a 3D camera that scans properties; Matterport Pro2, a 3D camera that captures spaces; LEICA BLK360, a device to create digital twins; Smartphone Capture, a smartphone capture solution for both iOS and Android; and 360 Cameras.