Matterport, Inc. (NASDAQ:MTTR) to Post Q1 2024 Earnings of ($0.13) Per Share, Northland Capmk Forecasts

Matterport, Inc. (NASDAQ:MTTR) – Investment analysts at Northland Capmk issued their Q1 2024 earnings per share estimates for shares of Matterport in a research report issued on Wednesday, April 10th. Northland Capmk analyst M. Latimore forecasts that the company will post earnings per share of ($0.13) for the quarter. The consensus estimate for Matterport’s current full-year earnings is ($0.45) per share. Northland Capmk also issued estimates for Matterport’s Q2 2024 earnings at ($0.12) EPS, Q3 2024 earnings at ($0.11) EPS, Q4 2024 earnings at ($0.11) EPS, FY2024 earnings at ($0.47) EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.06) EPS, Q3 2025 earnings at ($0.07) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.26) EPS.

A number of other equities analysts also recently issued reports on MTTR. Wedbush cut their price target on Matterport from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Northland Securities started coverage on Matterport in a research note on Thursday. They issued an “outperform” rating and a $3.50 target price on the stock. BTIG Research started coverage on Matterport in a research note on Friday, January 19th. They issued a “neutral” rating on the stock. Finally, Piper Sandler restated a “neutral” rating and issued a $3.00 target price on shares of Matterport in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $3.40.

Matterport Stock Performance

MTTR stock opened at $1.93 on Monday. The company has a market capitalization of $600.06 million, a P/E ratio of -2.92 and a beta of 1.73. Matterport has a 52-week low of $1.74 and a 52-week high of $3.78. The business has a 50-day simple moving average of $2.10 and a two-hundred day simple moving average of $2.29.

Matterport (NASDAQ:MTTR) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). The business had revenue of $39.55 million during the quarter, compared to the consensus estimate of $40.11 million. Matterport had a negative return on equity of 36.35% and a negative net margin of 126.20%.

Insider Buying and Selling

In related news, CEO Raymond J. Pittman sold 72,096 shares of Matterport stock in a transaction that occurred 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 owns 3,375,510 shares of the company’s stock, valued at approximately $6,818,530.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Raymond J. Pittman sold 72,096 shares of Matterport stock in a transaction that occurred 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 owns 3,375,510 shares of the company’s stock, valued at approximately $6,818,530.20. The transaction 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 Matterport stock in a transaction that occurred on Monday, April 1st. The stock was 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 approximately $2,958,565.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 437,909 shares of company stock valued at $884,072. 16.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Matterport

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Matterport by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 23,886,410 shares of the company’s stock valued at $64,254,000 after acquiring an additional 503,338 shares during the period. BlackRock Inc. raised its holdings in Matterport by 17.0% during the 2nd quarter. BlackRock Inc. now owns 21,239,174 shares of the company’s stock valued at $66,903,000 after acquiring an additional 3,084,806 shares during the period. State Street Corp raised its holdings in Matterport by 16.0% during the 2nd quarter. State Street Corp now owns 6,014,887 shares of the company’s stock valued at $18,947,000 after acquiring an additional 829,437 shares during the period. Dimensional Fund Advisors LP raised its holdings in Matterport by 46.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,672,781 shares of the company’s stock valued at $15,261,000 after acquiring an additional 1,794,853 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Matterport by 13.9% during the 2nd quarter. Geode Capital Management LLC now owns 5,100,516 shares of the company’s stock valued at $16,077,000 after acquiring an additional 623,701 shares during the period. Institutional investors own 36.96% of the company’s stock.

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.