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

Loop Capital reiterated their hold rating on shares of Matterport (NASDAQ:MTTR) in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a $5.50 price target on the stock, up from their prior price target of $5.00.

Several other equities analysts have also weighed in on MTTR. BTIG Research assumed coverage on shares of Matterport in a research report on Friday, January 19th. They issued a neutral rating on the stock. Wedbush lowered 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. Piper Sandler raised 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, April 22nd. Finally, Northland Securities began coverage on shares of Matterport in a research report on Thursday, April 11th. They set an outperform rating and a $3.50 price target on the stock. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $4.50.

Matterport Price Performance

Shares of MTTR opened at $4.72 on Tuesday. The firm has a market capitalization of $1.47 billion, a PE ratio of -7.15 and a beta of 1.73. The company’s 50-day moving average is $2.27 and its 200-day moving average is $2.36. Matterport has a fifty-two week low of $1.73 and a fifty-two week high of $4.99.

Matterport (NASDAQ:MTTR) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). The company had revenue of $39.55 million for the quarter, compared to analyst estimates of $40.11 million. Matterport had a negative net margin of 126.20% and a negative return on equity of 36.35%. Analysts predict that Matterport will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Matterport news, CRO Jay Remley sold 13,261 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $1.94, for a total transaction of $25,726.34. Following the sale, the executive now directly owns 1,038,563 shares in the company, valued at $2,014,812.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO James Daniel Fay sold 25,000 shares of the firm’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 sale, the chief financial officer now directly owns 1,314,918 shares in the company, valued at approximately $2,958,565.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Jay Remley sold 13,261 shares of the firm’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 transaction of $25,726.34. Following the completion of the sale, the executive now owns 1,038,563 shares in the company, valued at $2,014,812.22. The disclosure for this sale can be found here. Insiders have sold 437,909 shares of company stock worth $884,072 over the last ninety days. Corporate insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Matterport

A number of hedge funds have recently made changes to their positions in the stock. First Trust Direct Indexing L.P. acquired a new stake in shares of Matterport in the 1st quarter valued at approximately $94,000. 180 Wealth Advisors LLC boosted its stake in shares of Matterport by 94.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 28,808 shares of the company’s stock valued at $65,000 after purchasing an additional 13,994 shares in the last quarter. IMC Chicago LLC acquired a new stake in shares of Matterport in the 1st quarter valued at approximately $465,000. Clarity Capital Partners LLC acquired a new stake in shares of Matterport in the 4th quarter valued at approximately $74,000. Finally, G2 Investment Partners Management LLC boosted its stake in shares of Matterport by 136.7% in the 4th quarter. G2 Investment Partners Management LLC now owns 1,396,528 shares of the company’s stock valued at $3,757,000 after purchasing an additional 806,528 shares in the last quarter. 36.96% of the stock is currently 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.