Brokerages Set Matterport, Inc. (NASDAQ:MTTR) Target Price at $4.17

Matterport, Inc. (NASDAQ:MTTR) has earned a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating. The average 1-year price target 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 research analyst reports. BTIG Research began coverage on Matterport in a report on Friday, January 19th. They issued a “neutral” rating for the company. Northland Securities reiterated a “market perform” rating and issued a $5.50 price objective on shares of Matterport in a report on Tuesday, April 23rd. Piper Sandler upped their target price on shares of Matterport from $3.00 to $5.50 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Loop Capital reiterated a “hold” rating and issued a $5.50 price target (up from $5.00) on shares of Matterport in a research note on Tuesday, April 23rd. Finally, Wedbush lowered their price objective 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.

Matterport Price Performance

Shares of Matterport stock opened at $4.74 on Tuesday. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -7.18 and a beta of 1.73. Matterport has a 1 year low of $1.73 and a 1 year high of $4.99. The firm’s 50-day moving average is $2.31 and its 200 day moving average is $2.38.

Matterport (NASDAQ:MTTR) last issued its 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 firm 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%. On average, equities analysts expect that Matterport will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling at Matterport

In other news, CEO Raymond J. Pittman sold 72,096 shares of the stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Matterport news, CEO Raymond J. Pittman sold 69,539 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $1.94, for a total value of $134,905.66. Following the completion of the sale, the chief executive officer now owns 3,231,873 shares in the company, valued at $6,269,833.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Raymond J. Pittman sold 72,096 shares of Matterport stock in a transaction dated 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 directly owns 3,375,510 shares in the company, valued at $6,818,530.20. The disclosure for this sale can be found here. Insiders sold a total of 437,909 shares of company stock worth $884,072 in the last three months. 16.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Matterport

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTTR. SG Americas Securities LLC purchased a new stake in shares of Matterport in the third quarter worth $559,000. Exchange Traded Concepts LLC increased its stake in Matterport by 6.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,095,413 shares of the company’s stock worth $6,717,000 after buying an additional 178,460 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Matterport by 132.0% during the third 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 period. Raymond James & Associates lifted its position in shares of Matterport by 7.2% in the third 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted 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 acquiring an additional 21,179 shares during the period. 36.96% of the stock is owned by hedge funds and other institutional investors.

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.