Matterport, Inc. (NASDAQ:MTTR) Receives Average Recommendation of “Hold” from Brokerages

Matterport, Inc. (NASDAQ:MTTR) has been given a consensus rating of “Hold” by the six ratings firms that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $4.17.

Several equities research analysts have issued reports on the company. Wedbush cut their target price on Matterport from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. BTIG Research started coverage on Matterport in a research note on Friday, January 19th. They set a “neutral” rating for the company. Piper Sandler upped their target price on Matterport from $3.00 to $5.50 and gave the company a “neutral” rating in a research note on Monday. Loop Capital reissued a “hold” rating and set a $5.50 price target (up previously from $5.00) on shares of Matterport in a research note on Tuesday. Finally, Northland Securities started coverage on Matterport in a research note on Thursday, April 11th. They set an “outperform” rating and a $3.50 price target on the stock.

Matterport Stock Down 4.0 %

Shares of NASDAQ MTTR traded down $0.19 during mid-day trading on Tuesday, reaching $4.61. 16,333,742 shares of the company were exchanged, compared to its average volume of 3,536,414. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -7.05 and a beta of 1.73. Matterport has a 1 year low of $1.73 and a 1 year high of $4.99. The firm has a 50-day moving average of $2.09 and a 200 day moving average of $2.30.

Matterport (NASDAQ:MTTR) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). The business had revenue of $39.55 million for the quarter, compared to analyst estimates of $40.11 million. Matterport had a negative return on equity of 36.35% and a negative net margin of 126.20%. On average, equities analysts forecast that Matterport will post -0.45 earnings per share for the current year.

Insider Activity

In other Matterport news, CFO James Daniel Fay sold 25,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $2.25, for a total transaction of $56,250.00. Following the completion of the sale, the chief financial officer now directly owns 1,314,918 shares in the company, valued at $2,958,565.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Matterport news, CEO Raymond J. Pittman sold 72,096 shares of Matterport stock in a transaction on Monday, March 4th. The shares were sold at an average price of $2.02, for a total value of $145,633.92. Following the sale, the chief executive officer now directly owns 3,375,510 shares in the company, valued at approximately $6,818,530.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Daniel Fay sold 25,000 shares of Matterport stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $2.25, for a total transaction of $56,250.00. Following the completion of the transaction, the chief financial officer now directly owns 1,314,918 shares of the company’s stock, valued at approximately $2,958,565.50. The disclosure for this sale can be found here. Insiders have sold a total of 437,909 shares of company stock worth $884,072 in the last ninety days. Corporate insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Matterport

Several hedge funds and other institutional investors have recently made changes to their positions in the company. 180 Wealth Advisors LLC bought a new stake in Matterport during the 3rd quarter worth approximately $27,000. Droms Strauss Advisors Inc. MO ADV purchased a new stake in Matterport during the fourth quarter worth about $27,000. Apollon Wealth Management LLC bought a new position in Matterport in the 4th quarter worth approximately $28,000. Private Advisor Group LLC purchased a new stake in Matterport in the 4th quarter worth approximately $31,000. Finally, Choreo LLC purchased a new stake in Matterport in the 4th quarter worth approximately $33,000. 36.96% of the stock is currently owned by institutional investors and hedge funds.

Matterport Company Profile

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.