Northland Securities Reiterates Market Perform Rating for Matterport (NASDAQ:MTTR)

Northland Securities restated their market perform rating on shares of Matterport (NASDAQ:MTTR) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $5.50 price target on the stock.

Other equities analysts have also recently issued research reports about the stock. BTIG Research began coverage on shares of Matterport in a research report on Friday, January 19th. They set a neutral rating for the company. Piper Sandler lifted their price target on shares of Matterport from $3.00 to $5.50 and gave the stock a neutral rating in a report on Monday, April 22nd. Wedbush lowered their price target 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. Finally, Loop Capital reiterated a hold rating and set a $5.50 price target (up from $5.00) on shares of Matterport in a report on Tuesday. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $4.50.

Matterport Trading Up 0.9 %

Shares of MTTR opened at $4.72 on Tuesday. The stock has a market cap of $1.47 billion, a P/E ratio of -7.15 and a beta of 1.73. The company has a 50-day moving average of $2.27 and a two-hundred day moving average of $2.36. Matterport has a 12-month low of $1.73 and a 12-month high of $4.99.

Matterport (NASDAQ:MTTR) last announced its earnings results on Tuesday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 net margin of 126.20% and a negative return on equity of 36.35%. As a group, analysts forecast that Matterport will post -0.45 EPS for the current fiscal year.

Insider Activity at Matterport

In related news, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Raymond J. Pittman sold 69,539 shares of the business’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 $134,905.66. Following the completion of the sale, the chief executive officer now directly owns 3,231,873 shares in the company, valued at $6,269,833.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were 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 of the company’s stock, valued at $2,958,565.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 437,909 shares of company stock worth $884,072. 16.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its position in Matterport by 21.0% during the third quarter. Barclays PLC now owns 120,020 shares of the company’s stock valued at $260,000 after buying an additional 20,824 shares in the last quarter. Vanguard Group Inc. lifted its position 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 buying an additional 306,958 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Matterport by 5.1% during the third 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 in the last quarter. 180 Wealth Advisors LLC acquired a new position in Matterport during the third quarter valued at approximately $27,000. Finally, Dark Forest Capital Management LP acquired a new position in Matterport during the third quarter valued at approximately $291,000. 36.96% of the stock is 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.