Matterport (NASDAQ:MTTR) Price Target Raised to $5.50 at Piper Sandler

Matterport (NASDAQ:MTTR) had its target price boosted by Piper Sandler from $3.00 to $5.50 in a research note issued to investors on Monday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the company. BTIG Research assumed coverage on Matterport in a research note on Friday, January 19th. They set a neutral rating for the company. Wedbush decreased 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. Finally, Northland Securities assumed coverage on Matterport in a research note on Thursday, April 11th. They set an outperform rating and a $3.50 target price for the company. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $3.90.

Matterport Trading Up 175.9 %

Shares of MTTR stock opened at $4.80 on Monday. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -7.27 and a beta of 1.73. The stock has a 50-day moving average of $2.09 and a 200-day moving average of $2.30. Matterport has a 1-year low of $1.73 and a 1-year high of $4.99.

Matterport (NASDAQ:MTTR) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). The company had revenue of $39.55 million during the quarter, compared to analysts’ expectations of $40.11 million. Matterport had a negative return on equity of 36.35% and a negative net margin of 126.20%. Sell-side analysts forecast that Matterport will post -0.45 earnings per share for the current year.

Insider Buying and Selling at Matterport

In other Matterport news, CRO Jay Remley sold 13,261 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 value of $25,726.34. Following the completion of the sale, the executive now owns 1,038,563 shares of the company’s stock, valued at $2,014,812.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 in the company, valued at $3,175,173.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jay Remley sold 13,261 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $1.94, for a total value of $25,726.34. Following the completion of the transaction, the executive now owns 1,038,563 shares in the company, valued at approximately $2,014,812.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 437,909 shares of company stock valued at $884,072. Company insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MTTR. SG Americas Securities LLC bought a new position in shares of Matterport in the third quarter valued at approximately $559,000. Exchange Traded Concepts LLC lifted its holdings in shares of Matterport by 6.1% in the third quarter. Exchange Traded Concepts LLC now owns 3,095,413 shares of the company’s stock valued at $6,717,000 after purchasing an additional 178,460 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Matterport by 132.0% in the third quarter. Commonwealth Equity Services LLC now owns 272,367 shares of the company’s stock valued at $591,000 after purchasing an additional 154,961 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Matterport by 7.2% in the third quarter. Raymond James & Associates now owns 294,342 shares of the company’s stock valued at $639,000 after purchasing an additional 19,760 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Matterport by 54.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,941 shares of the company’s stock valued at $130,000 after purchasing an additional 21,179 shares in the last quarter. Institutional investors own 36.96% of the company’s stock.

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.