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

Matterport, Inc. (NASDAQ:MTTR) – Northland Capmk issued their Q1 2024 earnings per share estimates for Matterport in a report released on Wednesday, April 10th. Northland Capmk analyst M. Latimore forecasts that the company will post earnings of ($0.13) per share 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.

Several other analysts have also recently commented on the company. Piper Sandler restated a “neutral” rating and set a $3.00 target price on shares of Matterport in a report on Wednesday, February 21st. 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. BTIG Research started coverage on Matterport in a report on Friday, January 19th. They set a “neutral” rating on the stock. Finally, Northland Securities started coverage on Matterport in a report on Thursday, April 11th. They set an “outperform” rating and a $3.50 target price on the stock. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.40.

Matterport Price Performance

Shares of NASDAQ:MTTR opened at $1.85 on Monday. The business’s fifty day moving average price is $2.09 and its two-hundred day moving average price is $2.29. Matterport has a fifty-two week low of $1.74 and a fifty-two week high of $3.78. The stock has a market capitalization of $575.18 million, a price-to-earnings ratio of -2.80 and a beta of 1.73.

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

Hedge Funds Weigh In On Matterport

Several hedge funds have recently added to or reduced their stakes in the stock. IMC Chicago LLC bought a new stake in shares of Matterport in the first quarter worth about $465,000. Vanguard Group Inc. increased its holdings in shares of Matterport by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 23,886,410 shares of the company’s stock worth $64,254,000 after acquiring an additional 503,338 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Matterport in the fourth quarter worth about $42,000. Clarity Capital Partners LLC bought a new stake in shares of Matterport in the fourth quarter worth about $74,000. Finally, Moneta Group Investment Advisors LLC bought a new stake in shares of Matterport in the fourth quarter worth about $62,000. Institutional investors and hedge funds own 36.96% of the company’s stock.

Insider Activity

In other news, CFO James Daniel Fay sold 25,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 1,404,944 shares of the company’s stock, valued at $3,175,173.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Matterport news, CFO James Daniel Fay sold 25,000 shares of the 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 transaction, the chief financial officer now owns 1,404,944 shares of the company’s stock, valued at $3,175,173.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Japjit Tulsi sold 16,670 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $2.02, for a total value of $33,673.40. Following the completion of the transaction, the chief technology officer now directly owns 390,078 shares in the company, valued at approximately $787,957.56. The disclosure for this sale can be found here. Insiders have sold 437,909 shares of company stock valued at $884,072 over the last 90 days. 16.10% of the stock is owned by company insiders.

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.