Matterport’s (MTTR) “Hold” Rating Reaffirmed at Loop Capital

Matterport (NASDAQ:MTTR)‘s stock had its “hold” rating reiterated by research analysts at Loop Capital in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $5.50 target price on the stock, up from their prior target price of $5.00. Loop Capital’s price target points to a potential upside of 20.48% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Wedbush dropped their target price 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. Piper Sandler increased their target price on shares of Matterport from $3.00 to $5.50 and gave the stock a “neutral” rating in a research report on Monday. BTIG Research assumed coverage on shares of Matterport in a research report on Friday, January 19th. They issued a “neutral” rating for the company. Finally, Northland Securities assumed coverage on shares of Matterport in a research report on Thursday, April 11th. They issued an “outperform” rating and a $3.50 price objective for the company. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.17.

Matterport Stock Performance

Shares of NASDAQ:MTTR traded down $0.24 during midday trading on Tuesday, reaching $4.57. 12,198,563 shares of the company’s stock were exchanged, compared to its average volume of 3,480,092. The company’s 50 day simple moving average is $2.09 and its two-hundred day simple moving average is $2.30. The firm has a market capitalization of $1.42 billion, a PE ratio of -6.92 and a beta of 1.73. Matterport has a 12 month low of $1.73 and a 12 month high of $4.99.

Matterport (NASDAQ:MTTR) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). The company had revenue of $39.55 million during 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, research analysts anticipate that Matterport will post -0.45 earnings per share for the current year.

Insider Activity

In other news, CEO Raymond J. Pittman sold 69,539 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $1.94, for a total value of $134,905.66. Following the transaction, the chief executive officer now owns 3,231,873 shares of the company’s stock, valued at approximately $6,269,833.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Raymond J. Pittman sold 69,539 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $1.94, for a total value of $134,905.66. Following the transaction, the chief executive officer now owns 3,231,873 shares of the company’s stock, valued at approximately $6,269,833.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $2.26, for a total transaction of $56,500.00. Following the completion of the transaction, the chief financial officer now directly owns 1,404,944 shares in the company, valued at approximately $3,175,173.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 437,909 shares of company stock valued at $884,072. 16.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MTTR. SG Americas Securities LLC bought a new position in Matterport during the 3rd quarter worth approximately $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 worth $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 worth $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 worth $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 worth $130,000 after acquiring an additional 21,179 shares during the last quarter. Institutional investors own 36.96% of the company’s stock.

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.