Matterport, Inc. (NASDAQ:MTTR) Receives $4.50 Consensus Target Price from Brokerages

Shares of Matterport, Inc. (NASDAQ:MTTR) have been given a consensus recommendation of “Hold” by the six research firms that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $4.50.

A number of brokerages have weighed in on MTTR. Wedbush lowered their price objective on Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Loop Capital reiterated a “hold” rating and set a $5.50 target price (up from $5.00) on shares of Matterport in a research report on Tuesday, April 23rd. Piper Sandler raised their price objective on Matterport from $3.00 to $5.50 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $5.50 target price on shares of Matterport in a research report on Tuesday, April 23rd.

Matterport Price Performance

Shares of NASDAQ:MTTR opened at $4.42 on Friday. Matterport has a fifty-two week low of $1.73 and a fifty-two week high of $4.99. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -7.37 and a beta of 1.11. The firm’s 50 day moving average price is $3.24 and its 200 day moving average price is $2.70.

Matterport (NASDAQ:MTTR) last announced its earnings results on Tuesday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). Matterport had a negative net margin of 113.62% and a negative return on equity of 33.59%. The business had revenue of $39.55 million for the quarter, compared to analyst estimates of $40.11 million. On average, equities analysts anticipate that Matterport will post -0.45 EPS for the current year.

Insider Activity at Matterport

In related news, CRO Jay Remley sold 13,261 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $1.94, for a total transaction of $25,726.34. Following the transaction, the executive now directly owns 1,038,563 shares in the company, valued at $2,014,812.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Matterport news, CRO Jay Remley sold 13,261 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 $25,726.34. Following the transaction, the executive now owns 1,038,563 shares of the company’s stock, valued at $2,014,812.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Raymond J. Pittman sold 72,096 shares of the company’s 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 directly owns 3,375,510 shares of the company’s stock, 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 valued at $942,572 over the last three months. 17.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Matterport

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Matterport by 2.2% in the first quarter. Vanguard Group Inc. now owns 24,406,900 shares of the company’s stock valued at $55,160,000 after purchasing an additional 520,490 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Matterport by 4.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,221,465 shares of the company’s stock valued at $8,666,000 after buying an additional 126,052 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Matterport by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,864,667 shares of the company’s stock worth $4,046,000 after acquiring an additional 90,581 shares during the period. G2 Investment Partners Management LLC boosted its position in Matterport by 136.7% during the 4th quarter. G2 Investment Partners Management LLC now owns 1,396,528 shares of the company’s stock worth $3,757,000 after acquiring an additional 806,528 shares during the period. Finally, Itau Unibanco Holding S.A. grew its stake in shares of Matterport by 8.1% in the third quarter. Itau Unibanco Holding S.A. now owns 909,172 shares of the company’s stock worth $1,973,000 after purchasing an additional 68,030 shares in the last quarter. 36.96% of the stock is currently owned by 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.