Brokerages Set Matterport, Inc. (NASDAQ:MTTR) Price Target at $4.17

Shares of Matterport, Inc. (NASDAQ:MTTR) have been assigned an average rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $4.50.

Several equities research analysts have recently commented on MTTR shares. Wedbush reduced their target price on Matterport from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Loop Capital reaffirmed a “hold” rating and set a $5.50 target price (up from $5.00) on shares of Matterport in a report on Tuesday, April 23rd. BTIG Research started coverage on Matterport in a report on Friday, January 19th. They set a “neutral” rating for the company. Northland Securities reaffirmed a “market perform” rating and set a $5.50 target price on shares of Matterport in a report on Tuesday, April 23rd. Finally, Piper Sandler upped their target price on Matterport from $3.00 to $5.50 and gave the company a “neutral” rating in a report on Monday, April 22nd.

Insider Activity

In other news, CEO Raymond J. Pittman sold 72,096 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $2.02, for a total transaction of $145,633.92. Following the transaction, the chief executive officer now owns 3,375,510 shares of the company’s stock, valued at approximately $6,818,530.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $2.25, for a total transaction of $56,250.00. Following the completion of the sale, the chief financial officer now owns 1,314,918 shares in the company, valued at approximately $2,958,565.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Raymond J. Pittman sold 72,096 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $2.02, for a total value of $145,633.92. Following the sale, the chief executive officer now 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 quarter, insiders have sold 437,909 shares of company stock valued at $884,072. Insiders own 16.10% of the company’s stock.

Institutional Trading of Matterport

Several hedge funds have recently added to or reduced their stakes in MTTR. SG Americas Securities LLC bought a new stake in Matterport during the 3rd quarter valued at approximately $559,000. Exchange Traded Concepts LLC boosted its stake in Matterport by 6.1% during the 3rd 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 during the period. Commonwealth Equity Services LLC boosted its stake in Matterport by 132.0% during the 3rd 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 during the period. Raymond James & Associates lifted its position in shares of Matterport by 7.2% in the 3rd quarter. Raymond James & Associates now owns 294,342 shares of the company’s stock worth $639,000 after acquiring an additional 19,760 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Matterport by 54.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,941 shares of the company’s stock worth $130,000 after acquiring an additional 21,179 shares during the period. Institutional investors own 36.96% of the company’s stock.

Matterport Stock Up 0.9 %

Shares of Matterport stock opened at $4.72 on Tuesday. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -7.15 and a beta of 1.73. The business has a fifty day simple moving average of $2.27 and a 200-day simple moving average of $2.36. Matterport has a fifty-two week low of $1.73 and a fifty-two week high of $4.99.

Matterport (NASDAQ:MTTR) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.14) earnings per share for the quarter, meeting 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 business had revenue of $39.55 million during the quarter, compared to analyst estimates of $40.11 million. Analysts anticipate that Matterport 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.