Matterport (NASDAQ:MTTR) Hits New 12-Month High After Analyst Upgrade

Matterport, Inc. (NASDAQ:MTTR)’s stock price hit a new 52-week high 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 traded. The stock had previously closed at $1.74.

Other analysts also recently issued reports about the stock. Northland Securities initiated coverage on shares of Matterport in a report on Thursday, April 11th. They issued an “outperform” rating and a $3.50 target price on the stock. BTIG Research initiated coverage on Matterport in a research report on Friday, January 19th. They set a “neutral” rating for the company. Finally, Wedbush decreased their target price on Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Matterport has an average rating of “Hold” and a consensus price target of $4.50.

Insider Activity at Matterport

In other Matterport news, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction 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 sale, 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 SEC, which is available through the SEC website. In related news, CEO Raymond J. Pittman sold 72,096 shares of the business’s stock in a transaction that occurred 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 $6,818,530.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction that occurred 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 90 days, insiders sold 437,909 shares of company stock worth $884,072. 16.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Matterport

Institutional investors and hedge funds have recently modified their holdings of the stock. 180 Wealth Advisors LLC acquired a new stake in Matterport during the third quarter valued at $27,000. Droms Strauss Advisors Inc. MO ADV purchased a new stake in shares of Matterport during the 4th quarter worth about $27,000. Apollon Wealth Management LLC acquired a new stake in shares of Matterport during the 4th quarter valued at about $28,000. Private Advisor Group LLC bought a new stake in shares of Matterport in the 4th quarter valued at approximately $31,000. Finally, Choreo LLC acquired a new position in Matterport in the fourth quarter worth approximately $33,000. 36.96% of the stock is currently owned by hedge funds and other institutional investors.

Matterport Stock Down 4.2 %

The stock has a market cap of $1.43 billion, a P/E ratio of -6.97 and a beta of 1.73. The firm’s 50-day moving average is $2.13 and its two-hundred day moving average is $2.31.

Matterport (NASDAQ:MTTR) last released its quarterly earnings results 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 the consensus estimate of $40.11 million. Matterport had a negative net margin of 126.20% and a negative return on equity of 36.35%. Analysts anticipate that Matterport, Inc. will post -0.45 earnings per share for the current fiscal year.

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.