Matterport (NASDAQ:MTTR) Rating Reiterated by Northland Securities

Matterport (NASDAQ:MTTR)‘s stock had its “market perform” rating restated by equities researchers at Northland Securities in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $5.50 price objective on the stock. Northland Securities’ target price suggests a potential upside of 18.53% from the stock’s previous close.

A number of other research analysts also recently commented on MTTR. Loop Capital reaffirmed a “hold” rating and set a $5.50 price objective (up from $5.00) on shares of Matterport in a research report on Tuesday. Piper Sandler boosted their price target on shares of Matterport from $3.00 to $5.50 and gave the company a “neutral” rating in a report on Monday. BTIG Research assumed coverage on shares of Matterport in a research note on Friday, January 19th. They issued a “neutral” rating on the stock. Finally, Wedbush reduced their price objective on Matterport from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, Matterport presently has a consensus rating of “Hold” and a consensus target price of $4.50.

Matterport Stock Up 0.9 %

MTTR opened at $4.64 on Tuesday. Matterport has a 12-month low of $1.73 and a 12-month high of $4.99. The firm has a market capitalization of $1.44 billion, a P/E ratio of -7.03 and a beta of 1.73. The stock has a fifty day moving average of $2.18 and a 200-day moving average of $2.33.

Matterport (NASDAQ:MTTR) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). Matterport had a negative return on equity of 36.35% and a negative net margin of 126.20%. The firm had revenue of $39.55 million during the quarter, compared to the consensus estimate of $40.11 million. On average, analysts expect that Matterport will post -0.45 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO James Daniel Fay sold 25,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $2.25, for a total value 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 $2,958,565.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $2.25, for a total value of $56,250.00. Following the transaction, the chief financial officer now directly owns 1,314,918 shares of the company’s stock, valued at approximately $2,958,565.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Raymond J. Pittman sold 72,096 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $2.02, for a total value of $145,633.92. Following the sale, the chief executive officer now directly owns 3,375,510 shares of the company’s stock, valued at approximately $6,818,530.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 437,909 shares of company stock worth $884,072. 16.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Matterport by 1.3% during the third quarter. Vanguard Group Inc. now owns 23,383,072 shares of the company’s stock valued at $50,741,000 after acquiring an additional 306,958 shares during the period. Exchange Traded Concepts LLC boosted its stake in Matterport by 4.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,221,465 shares of the company’s stock valued at $8,666,000 after purchasing an additional 126,052 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Matterport by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,864,667 shares of the company’s stock valued at $4,046,000 after buying an additional 90,581 shares during the last quarter. G2 Investment Partners Management LLC increased its position in Matterport by 136.7% in the 4th quarter. G2 Investment Partners Management LLC now owns 1,396,528 shares of the company’s stock worth $3,757,000 after buying an additional 806,528 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its holdings in shares of Matterport by 8.1% during the third quarter. Itau Unibanco Holding S.A. now owns 909,172 shares of the company’s stock worth $1,973,000 after buying an additional 68,030 shares during the last quarter. 36.96% of the stock is currently owned by institutional investors and hedge funds.

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.