Matterport (NASDAQ:MTTR) Price Target Increased to $5.50 by Analysts at Piper Sandler

Matterport (NASDAQ:MTTR) had its target price lifted by Piper Sandler from $3.00 to $5.50 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 12.94% from the stock’s previous close.

A number of other analysts have also commented on MTTR. 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. BTIG Research started coverage on Matterport in a report on Friday, January 19th. They issued a “neutral” rating for the company. Finally, Northland Securities started coverage on Matterport in a report on Thursday, April 11th. They issued an “outperform” rating and a $3.50 price objective for the company. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Matterport has a consensus rating of “Hold” and a consensus price target of $3.90.

Matterport Price Performance

Shares of NASDAQ MTTR traded up $3.13 during trading on Monday, reaching $4.87. 44,513,206 shares of the stock traded hands, compared to its average volume of 2,991,414. Matterport has a 52-week low of $1.73 and a 52-week high of $4.99. The company has a 50-day moving average of $2.04 and a 200-day moving average of $2.28. The stock has a market capitalization of $1.51 billion, a P/E ratio of -7.38 and a beta of 1.73.

Matterport (NASDAQ:MTTR) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.14) earnings per share (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 business had revenue of $39.55 million for the quarter, compared to analysts’ expectations of $40.11 million. Analysts expect that Matterport will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Matterport news, insider Matthew Zinn sold 58,142 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $2.02, for a total transaction of $117,446.84. Following the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other Matterport news, CEO Raymond J. Pittman sold 69,539 shares of Matterport stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $1.94, for a total transaction of $134,905.66. Following the completion of the sale, the chief executive officer now owns 3,231,873 shares of the company’s stock, valued at approximately $6,269,833.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Matthew Zinn sold 58,142 shares of Matterport stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $2.02, for a total value of $117,446.84. Following the sale, the insider now directly owns 396,121 shares of the company’s stock, valued at approximately $800,164.42. The disclosure for this sale can be found here. Insiders have sold 437,909 shares of company stock worth $884,072 in the last ninety days. 16.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Matterport

A number of institutional investors have recently modified their holdings of MTTR. SG Americas Securities LLC purchased a new position in shares of Matterport in the 3rd quarter valued at about $559,000. Exchange Traded Concepts LLC boosted its holdings in shares of Matterport by 6.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,095,413 shares of the company’s stock worth $6,717,000 after purchasing an additional 178,460 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Matterport by 132.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 272,367 shares of the company’s stock worth $591,000 after purchasing an additional 154,961 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Matterport by 7.2% during the 3rd quarter. Raymond James & Associates now owns 294,342 shares of the company’s stock worth $639,000 after purchasing an additional 19,760 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in 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 acquiring an additional 21,179 shares during the last quarter. Hedge funds and other 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.