Matterport, Inc. (NASDAQ:MTTR) Receives Consensus Recommendation of "Hold" from Analysts

Shares of Matterport, Inc. (NASDAQ:MTTR - Get Free Report) have earned an average recommendation of "Hold" from the six research firms that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating. The average 12 month target price among brokers that have covered the stock in the last year is $4.50.

A number of analysts recently commented on MTTR shares. Piper Sandler lifted their price target on Matterport from $3.00 to $5.50 and gave the stock a "neutral" rating in a report on Monday. Loop Capital reiterated a "hold" rating and set a $5.50 price target (up from $5.00) on shares of Matterport in a report on Tuesday. BTIG Research started coverage on Matterport in a research report on Friday, January 19th. They issued a "neutral" rating for the company. Wedbush decreased their target price on Matterport from $5.00 to $4.00 and set a "neutral" rating for the company in a research report on Thursday, February 22nd. Finally, Northland Securities reissued a "market perform" rating and issued a $5.50 target price on shares of Matterport in a research report on Tuesday.

Matterport Price Performance

Shares of MTTR stock traded down $0.20 during trading hours on Tuesday, reaching $4.60. The company had a trading volume of 28,427,285 shares, compared to its average volume of 3,691,694. Matterport has a 12 month low of $1.73 and a 12 month high of $4.99. The business has a fifty day simple moving average of $2.09 and a 200-day simple moving average of $2.30. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -7.00 and a beta of 1.73.

Matterport (NASDAQ:MTTR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.14) EPS for the quarter, hitting analysts' consensus estimates of ($0.14). The business had revenue of $39.55 million for the quarter, compared to analyst estimates of $40.11 million. Matterport had a negative return on equity of 36.35% and a negative net margin of 126.20%. On average, equities research analysts expect that Matterport will post -0.45 earnings per share for the current year.

Insider Transactions at Matterport

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

Hedge Funds Weigh In On Matterport

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Matterport by 1.3% during the third quarter. Vanguard Group Inc. now owns 23,383,072 shares of the company's stock valued at $50,741,000 after purchasing an additional 306,958 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in 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 purchasing an additional 126,052 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Matterport by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,864,667 shares of the company's stock valued at $4,046,000 after acquiring an additional 90,581 shares during the period. G2 Investment Partners Management LLC increased its holdings in shares of Matterport by 136.7% in the fourth quarter. G2 Investment Partners Management LLC now owns 1,396,528 shares of the company's stock worth $3,757,000 after purchasing an additional 806,528 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its holdings 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 during the last quarter. 36.96% of the stock is currently 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.