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

Shares of Matterport, Inc. (NASDAQ:MTTR) have been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $4.50.

A number of equities research analysts have commented on MTTR shares. Loop Capital reissued a “hold” rating and set a $5.50 price objective (up previously from $5.00) on shares of Matterport in a report on Tuesday. Wedbush cut their price target 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. Piper Sandler increased their price target on shares of Matterport from $3.00 to $5.50 and gave the company a “neutral” rating in a research report on Monday. Northland Securities reiterated a “market perform” rating and issued a $5.50 price target on shares of Matterport in a research report on Tuesday. Finally, BTIG Research assumed coverage on shares of Matterport in a research report on Friday, January 19th. They issued a “neutral” rating on the stock.

Insiders Place Their Bets

In other news, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $2.26, for a total transaction of $56,500.00. Following the completion of the transaction, the chief financial officer now directly owns 1,404,944 shares of the company’s stock, valued at approximately $3,175,173.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $2.26, for a total transaction of $56,500.00. Following the completion of the transaction, the chief financial officer now directly owns 1,404,944 shares of the company’s stock, valued at approximately $3,175,173.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Raymond J. Pittman sold 69,539 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $1.94, for a total transaction of $134,905.66. Following the transaction, the chief executive officer now directly owns 3,231,873 shares of the company’s stock, valued at $6,269,833.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 437,909 shares of company stock worth $884,072. Company insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Matterport

Hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in Matterport by 23.4% during the fourth 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 lifted its holdings in shares of Matterport by 16.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,734 shares of the company’s stock worth $188,000 after buying an additional 9,793 shares in the last quarter. Droms Strauss Advisors Inc. MO ADV acquired a new stake in shares of Matterport during the fourth quarter worth $27,000. Principal Financial Group Inc. lifted its holdings in shares of Matterport by 39.1% during the third quarter. Principal Financial Group Inc. now owns 37,071 shares of the company’s stock worth $80,000 after buying an additional 10,427 shares in the last quarter. Finally, Apollon Wealth Management LLC acquired a new stake in shares of Matterport during the fourth quarter worth $28,000. 36.96% of the stock is owned by institutional investors.

Matterport Trading Up 0.9 %

NASDAQ:MTTR opened at $4.68 on Tuesday. The stock has a market capitalization of $1.46 billion, a P/E ratio of -7.09 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 $2.22 and a 200-day moving average of $2.34.

Matterport (NASDAQ:MTTR) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $40.11 million. As a group, analysts forecast that Matterport will post -0.45 EPS for the current fiscal 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.