Piper Sandler Boosts Matterport (NASDAQ:MTTR) Price Target to $5.50

Matterport (NASDAQ:MTTR) had its price target increased by Piper Sandler from $3.00 to $5.50 in a report published on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Northland Securities initiated coverage on shares of Matterport in a research note on Thursday, April 11th. They set an outperform rating and a $3.50 target price for the company. Wedbush decreased their target price on shares of Matterport from $5.00 to $4.00 and set a neutral rating for the company in a research note on Thursday, February 22nd. Finally, BTIG Research started coverage on shares of Matterport in a research note on Friday, January 19th. They set a neutral rating for the company. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Matterport has a consensus rating of Hold and an average price target of $4.50.

Matterport Trading Up 0.9 %

Shares of MTTR opened at $4.64 on Monday. Matterport has a twelve month low of $1.73 and a twelve month high of $4.99. The firm has a market capitalization of $1.44 billion, a P/E ratio of -7.03 and a beta of 1.73. The stock’s fifty day simple moving average is $2.18 and its 200 day simple moving average is $2.33.

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, meeting the consensus estimate of ($0.14). Matterport had a negative return on equity of 36.35% and a negative net margin of 126.20%. The firm had revenue of $39.55 million during the quarter, compared to the consensus estimate of $40.11 million. Sell-side analysts predict that Matterport will post -0.45 earnings per share for the current year.

Insider Activity at Matterport

In related news, CEO Raymond J. Pittman sold 72,096 shares of Matterport 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 approximately $6,818,530.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Raymond J. Pittman sold 72,096 shares of Matterport 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 transaction, the chief executive officer now owns 3,375,510 shares in the company, valued at approximately $6,818,530.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Daniel Fay sold 25,000 shares of Matterport 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 transaction, the chief financial officer now owns 1,404,944 shares in the company, valued at approximately $2,950,382.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 437,909 shares of company stock valued at $884,072. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. 180 Wealth Advisors LLC bought a new position in shares of Matterport during the 3rd quarter worth about $27,000. Droms Strauss Advisors Inc. MO ADV bought a new position in shares of Matterport during the 4th quarter worth about $27,000. Apollon Wealth Management LLC bought a new position in shares of Matterport during the 4th quarter worth about $28,000. Private Advisor Group LLC bought a new position in shares of Matterport during the 4th quarter worth about $31,000. Finally, Choreo LLC bought a new position in shares of Matterport during the 4th quarter worth about $33,000. 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.