Matterport (NASDAQ:MTTR) Earns “Hold” Rating from Loop Capital

Loop Capital reissued their hold rating on shares of Matterport (NASDAQ:MTTR) in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a $5.50 price objective on the stock, up from their previous price objective of $5.00.

Several other brokerages have also commented on MTTR. BTIG Research initiated coverage on shares of Matterport in a research report on Friday, January 19th. They set a neutral rating for the company. Piper Sandler upped their price target on shares of Matterport from $3.00 to $5.50 and gave the stock a neutral rating in a research report on Monday. Northland Securities initiated coverage on shares of Matterport in a research report on Thursday, April 11th. They set an outperform rating and a $3.50 price target for the company. Finally, Wedbush dropped their price target on shares of Matterport from $5.00 to $4.00 and set a neutral rating for the company in a research report on Thursday, February 22nd. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $4.50.

Matterport Price Performance

Shares of MTTR opened at $4.68 on Tuesday. The company’s 50 day simple moving average is $2.22 and its 200 day simple moving average is $2.34. Matterport has a 1 year low of $1.73 and a 1 year 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 (EPS) for the quarter, meeting the consensus estimate of ($0.14). The business had revenue of $39.55 million for the quarter, compared to the consensus estimate of $40.11 million. Matterport had a negative net margin of 126.20% and a negative return on equity of 36.35%. Sell-side analysts predict that Matterport will post -0.45 earnings per share for the current year.

Insider Transactions at Matterport

In other news, CEO Raymond J. Pittman sold 72,096 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 3,375,510 shares of the company’s stock, valued at $6,818,530.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Raymond J. Pittman sold 72,096 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 3,375,510 shares of the company’s stock, valued at $6,818,530.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $2.10, for a total transaction of $52,500.00. Following the completion of the sale, the chief financial officer now directly owns 1,404,944 shares of the company’s stock, valued at approximately $2,950,382.40. The disclosure for this sale can be found here. Insiders sold 437,909 shares of company stock valued at $884,072 over the last 90 days. Corporate insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Matterport

A number of large investors have recently added to or reduced their stakes in MTTR. SG Americas Securities LLC acquired a new stake in Matterport during the 3rd quarter valued at $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 acquiring an additional 178,460 shares during the last quarter. 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 acquiring an additional 154,961 shares during the last quarter. Raymond James & Associates boosted its stake in Matterport by 7.2% during the 3rd quarter. Raymond James & Associates now owns 294,342 shares of the company’s stock valued at $639,000 after acquiring an additional 19,760 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Matterport by 54.6% during the 3rd 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. 36.96% of the stock is owned by institutional investors and hedge funds.

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.