Matterport, Inc. (NASDAQ:MTTR) Receives Average Recommendation of “Hold” from Brokerages

Matterport, Inc. (NASDAQ:MTTR) has been given an average rating of “Hold” by the six brokerages that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $4.50.

MTTR has been the subject of a number of recent research reports. Northland Securities restated a “market perform” rating and set a $5.50 price target on shares of Matterport in a research note on Tuesday, April 23rd. Wedbush dropped their price target on shares of Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. BTIG Research started coverage on Matterport in a report on Friday, January 19th. They set a “neutral” rating for the company. Loop Capital reissued a “hold” rating and issued a $5.50 price objective (up from $5.00) on shares of Matterport in a research note on Tuesday, April 23rd. Finally, Piper Sandler lifted their target price on Matterport from $3.00 to $5.50 and gave the company a “neutral” rating in a research report on Monday, April 22nd.

Matterport Price Performance

MTTR stock opened at $4.74 on Tuesday. Matterport has a 1 year low of $1.73 and a 1 year high of $4.99. The stock has a market capitalization of $1.49 billion, a PE ratio of -7.18 and a beta of 1.73. The company’s 50-day moving average is $2.31 and its 200-day moving average is $2.38.

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

Insiders Place Their Bets

In other news, CFO James Daniel Fay sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $2.26, for a total value 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 $3,175,173.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Raymond J. Pittman sold 72,096 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $2.02, for a total transaction of $145,633.92. Following the completion of the sale, the chief executive officer now owns 3,375,510 shares in the company, valued at $6,818,530.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Daniel Fay sold 25,000 shares of Matterport stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $2.26, for a total transaction of $56,500.00. Following the completion of the sale, the chief financial officer now directly owns 1,404,944 shares in the company, valued at approximately $3,175,173.44. The disclosure for this sale can be found here. Insiders have sold a total of 437,909 shares of company stock valued at $884,072 in the last 90 days. 16.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Matterport

A number of institutional investors have recently added to or reduced their stakes in MTTR. Commonwealth Equity Services LLC increased its position in shares of Matterport by 5.5% during the first quarter. Commonwealth Equity Services LLC now owns 296,270 shares of the company’s stock valued at $670,000 after buying an additional 15,526 shares during the period. First Trust Direct Indexing L.P. purchased a new position in Matterport during the first quarter valued at approximately $94,000. 180 Wealth Advisors LLC increased its holdings in Matterport by 94.5% during the 1st quarter. 180 Wealth Advisors LLC now owns 28,808 shares of the company’s stock worth $65,000 after acquiring an additional 13,994 shares during the period. IMC Chicago LLC purchased a new stake in Matterport in the 1st quarter worth approximately $465,000. Finally, Clarity Capital Partners LLC bought a new position in Matterport in the 4th quarter valued at $74,000. Hedge funds and other institutional investors own 36.96% of the company’s stock.

About Matterport

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.