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

Matterport (NASDAQ:MTTR)‘s stock had its “hold” rating reaffirmed by Loop Capital in a report issued on Tuesday, Benzinga reports. They currently have a $5.50 price objective on the stock, up from their previous price objective of $5.00. Loop Capital’s price target suggests a potential upside of 20.48% from the company’s previous close.

Other research analysts also recently issued research reports about the company. BTIG Research began coverage on Matterport in a research note on Friday, January 19th. They set a “neutral” rating for the company. Wedbush lowered their target price on Matterport from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Piper Sandler boosted their target price on Matterport from $3.00 to $5.50 and gave the stock a “neutral” rating in a research note on Monday. Finally, Northland Securities began coverage on Matterport in a report on Thursday, April 11th. They set an “outperform” rating and a $3.50 price target on the stock. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.17.

Matterport Price Performance

MTTR traded down $0.24 on Tuesday, hitting $4.57. 12,198,563 shares of the stock were exchanged, compared to its average volume of 3,480,092. Matterport has a 12 month low of $1.73 and a 12 month high of $4.99. The business has a 50-day moving average of $2.09 and a two-hundred day moving average of $2.30. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -6.92 and a beta of 1.73.

Matterport (NASDAQ:MTTR) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14). Matterport had a negative net margin of 126.20% and a negative return on equity of 36.35%. The business had revenue of $39.55 million during the quarter, compared to analysts’ expectations of $40.11 million. Equities research analysts expect that Matterport will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Raymond J. Pittman sold 69,539 shares of the 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 transaction, the chief executive officer now directly owns 3,231,873 shares in the company, valued at approximately $6,269,833.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Matterport news, CEO Raymond J. Pittman sold 72,096 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $2.02, for a total transaction of $145,633.92. Following the transaction, the chief executive officer now directly 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 SEC, which is available through this hyperlink. Also, CEO Raymond J. Pittman sold 69,539 shares of the firm’s stock in a transaction on 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 in the company, valued at $6,269,833.62. The disclosure for this sale can be found here. Insiders have sold a total of 437,909 shares of company stock worth $884,072 in the last ninety days. Corporate insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Matterport

Several large investors have recently bought and sold shares of MTTR. SG Americas Securities LLC bought a new position in Matterport during the 3rd quarter valued at $559,000. Exchange Traded Concepts LLC raised its stake in shares of 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 purchasing an additional 178,460 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of 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 purchasing an additional 154,961 shares during the period. Raymond James & Associates raised its stake in shares of 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 purchasing an additional 19,760 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of 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 purchasing an additional 21,179 shares during the period. 36.96% of the stock is currently owned by institutional investors.

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.