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

Matterport, Inc. (NASDAQ:MTTR)’s share 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. The stock had previously closed at $1.74.

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

Insider Buying and Selling at Matterport

In other Matterport news, insider Matthew Zinn sold 58,142 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 transaction of $117,446.84. Following the completion of the transaction, the insider now owns 396,121 shares of the company’s stock, valued at approximately $800,164.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Matthew Zinn sold 58,142 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 $117,446.84. Following the completion of the transaction, the insider now owns 396,121 shares of the company’s stock, valued at approximately $800,164.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold 437,909 shares of company stock valued at $884,072 in the last 90 days. Insiders own 16.10% of the company’s stock.

Institutional Trading of Matterport

Several institutional investors have recently added to or reduced their stakes in MTTR. G2 Investment Partners Management LLC lifted its stake in Matterport by 136.7% in the fourth quarter. G2 Investment Partners Management LLC now owns 1,396,528 shares of the company’s stock worth $3,757,000 after purchasing an additional 806,528 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Matterport by 1.3% during the third quarter. Vanguard Group Inc. now owns 23,383,072 shares of the company’s stock worth $50,741,000 after acquiring an additional 306,958 shares during the period. SG Americas Securities LLC purchased a new position in shares of Matterport during the third quarter worth approximately $559,000. IMC Chicago LLC purchased a new position in shares of Matterport during the first quarter worth approximately $465,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Matterport by 6.1% during the third quarter. Exchange Traded Concepts LLC now owns 3,095,413 shares of the company’s stock worth $6,717,000 after acquiring an additional 178,460 shares during the period. Institutional investors own 36.96% of the company’s stock.

Matterport Price Performance

The firm has a market capitalization of $1.43 billion, a PE ratio of -6.97 and a beta of 1.73. The stock’s 50-day moving average price is $2.13 and its 200 day moving average price is $2.31.

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