Matterport, Inc. (NASDAQ:MTTR) Receives $4.17 Average Target Price from Analysts

Shares of Matterport, Inc. (NASDAQ:MTTR) have been assigned an average rating of “Hold” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation. The average 12-month price target among brokerages that have covered the stock in the last year is $4.50.

Several brokerages recently weighed in on MTTR. Piper Sandler boosted their target price on Matterport from $3.00 to $5.50 and gave the stock a “neutral” rating in a research note on Monday. Wedbush dropped their target price on Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Loop Capital restated a “hold” rating and set a $5.50 target price (up from $5.00) on shares of Matterport in a research note on Tuesday. BTIG Research began coverage on Matterport in a research note on Friday, January 19th. They set a “neutral” rating on the stock. Finally, Northland Securities reaffirmed a “market perform” rating and set a $5.50 price target on shares of Matterport in a research report on Tuesday.

Insiders Place Their Bets

In other news, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $2.26, for a total value of $56,500.00. Following the completion of the transaction, the chief financial officer now owns 1,404,944 shares of the company’s stock, valued at approximately $3,175,173.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $2.26, for a total value of $56,500.00. Following the completion of the transaction, the chief financial officer now owns 1,404,944 shares of the company’s stock, valued at approximately $3,175,173.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Jay Remley sold 13,748 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $2.02, for a total value of $27,770.96. Following the completion of the transaction, the executive now directly owns 1,065,954 shares of the company’s stock, valued at approximately $2,153,227.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 437,909 shares of company stock valued at $884,072. 16.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Matterport

A number of large investors have recently bought and sold shares of the business. Victory Capital Management Inc. raised its holdings in Matterport by 23.4% in the 4th quarter. Victory Capital Management Inc. now owns 33,901 shares of the company’s stock worth $91,000 after purchasing an additional 6,425 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Matterport by 16.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,734 shares of the company’s stock worth $188,000 after purchasing an additional 9,793 shares during the period. Droms Strauss Advisors Inc. MO ADV acquired a new position in Matterport in the 4th quarter worth about $27,000. Principal Financial Group Inc. raised its holdings in Matterport by 39.1% in the 3rd quarter. Principal Financial Group Inc. now owns 37,071 shares of the company’s stock worth $80,000 after purchasing an additional 10,427 shares during the period. Finally, Apollon Wealth Management LLC purchased a new stake in Matterport during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 36.96% of the company’s stock.

Matterport Trading Up 0.9 %

Shares of NASDAQ:MTTR opened at $4.68 on Tuesday. Matterport has a 12-month low of $1.73 and a 12-month high of $4.99. The business’s fifty day simple moving average is $2.22 and its 200-day simple moving average is $2.34. The company has a market capitalization of $1.46 billion, a PE ratio of -7.09 and a beta of 1.73.

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