Matterport, Inc. (NASDAQ:MTTR) Given Consensus Recommendation of “Hold” by Analysts

Matterport, Inc. (NASDAQ:MTTR) has been assigned a consensus rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $4.17.

Several brokerages recently issued reports on MTTR. Loop Capital reiterated a “hold” rating and issued a $5.50 target price (up from $5.00) on shares of Matterport in a research note on Tuesday. Wedbush decreased their price objective on shares of Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Northland Securities initiated coverage on shares of Matterport in a research report on Thursday, April 11th. They issued an “outperform” rating and a $3.50 target price on the stock. 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. Finally, BTIG Research started coverage on shares of Matterport in a report on Friday, January 19th. They issued a “neutral” rating on the stock.

Matterport Stock Performance

NASDAQ MTTR traded down $0.19 during trading on Tuesday, reaching $4.61. 16,333,742 shares of the company traded hands, compared to its average volume of 3,536,414. The stock’s 50 day moving average price is $2.09 and its two-hundred day moving average price is $2.30. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -7.05 and a beta of 1.73. Matterport has a 1-year low of $1.73 and a 1-year high of $4.99.

Matterport (NASDAQ:MTTR) last posted 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). The firm had revenue of $39.55 million for the quarter, compared to the consensus estimate of $40.11 million. Matterport had a negative return on equity of 36.35% and a negative net margin of 126.20%. Equities research analysts expect that Matterport will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Raymond J. Pittman sold 69,539 shares of Matterport stock in a transaction 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 sale, the chief executive officer now owns 3,231,873 shares in the company, valued at $6,269,833.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Matterport news, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction dated 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 owns 1,404,944 shares of the company’s stock, valued at approximately $3,175,173.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Raymond J. Pittman sold 69,539 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $1.94, for a total transaction of $134,905.66. Following the sale, the chief executive officer now directly owns 3,231,873 shares of the company’s stock, valued at approximately $6,269,833.62. 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 over the last three months. 16.10% of the stock is owned by company insiders.

Institutional Trading of Matterport

Several hedge funds and other institutional investors have recently bought and sold shares of MTTR. SG Americas Securities LLC purchased a new position in shares of Matterport during the third quarter valued at $559,000. Exchange Traded Concepts LLC boosted its holdings in Matterport by 6.1% in the third quarter. Exchange Traded Concepts LLC now owns 3,095,413 shares of the company’s stock worth $6,717,000 after acquiring an additional 178,460 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Matterport by 132.0% in the third 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 raised its stake in shares of Matterport by 7.2% in the third 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 raised its stake in shares of Matterport by 54.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,941 shares of the company’s stock worth $130,000 after purchasing 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.