In yesterday’s Wall Street session, Matterport Inc. (NASDAQ:MTTR) shares traded at $3.02, down -1.31% from the previous session.
6 analysts cover Matterport Inc. (NASDAQ:MTTR), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $8.00 and a low of $3.00, we find $4.00. Given the previous closing price of $3.06, this indicates a potential upside of 30.72 percent. MTTR stock price is now 7.86% away from the 50-day moving average and -1.32% away from the 200-day moving average. The market capitalization of the company currently stands at $882.29M.
The stock has received a hold rating from 4 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $4.60 as their price target over the next twelve months.
With the price target reduced from $5 to $3, Deutsche Bank Downgraded its rating from Buy to Hold for Matterport Inc. (NASDAQ: MTTR).
In other news, PITTMAN RAYMOND J, Chief Executive Officer sold 299,910 shares of the company’s stock on Jun 02. The stock was sold for $798,600 at an average price of $2.66. Upon completion of the transaction, the Chief Executive Officer now directly owns 2,418,691 shares in the company, valued at $7.3 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 02, Chief Financial Officer Fay James Daniel sold 93,093 shares of the business’s stock. A total of $247,888 was realized by selling the stock at an average price of $2.66. This leaves the insider owning 1,000,215 shares of the company worth $3.02 million. Insiders disposed of 4,775,662 shares of company stock worth roughly $14.42 million over the past 1 year. A total of 1.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MTTR stock. A new stake in Matterport Inc. shares was purchased by NORGES BANK during the first quarter worth $4,206,000. UBS ASSET MANAGEMENT AMERICAS INC invested $808,000 in shares of MTTR during the first quarter. In the first quarter, STRAIT & SOUND WEALTH MANAGEMENT LLC acquired a new stake in Matterport Inc. valued at approximately $678,000. HRT FINANCIAL LP acquired a new stake in MTTR for approximately $476,000. BALYASNY ASSET MANAGEMENT L.P. purchased a new stake in MTTR valued at around $387,000 in the second quarter. In total, there are 287 active investors with 40.80% ownership of the company’s stock.
During the past 12 months, Matterport Inc. has had a low of $2.20 and a high of $7.45. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 10.80, and a quick ratio of 10.60. The fifty day moving average price for MTTR is $2.8092 and a two-hundred day moving average price translates $3.0553 for the stock.
The latest earnings results from Matterport Inc. (NASDAQ: MTTR) was released for Mar, 2023. According to the Software – Application Company, earnings per share came in at -$0.07, beating analysts’ expectations of -$0.1 by 0.03. This compares to $0.23 EPS in the same period last year. The company reported revenue of $37.99 million for the quarter, compared to $28.51 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 33.27 percent. For the current quarter, analysts expect MTTR to generate $39.26M in revenue.
Matterport Inc.(MTTR) Company Profile
Matterport, Inc., a spatial data company, focuses on digitization and datafication of the built world. The company offers Matterport Capture Services, a fully managed solution for enterprise subscribers; Smartphone Capture, a smartphone capture solution for both iOS and Android; Matterport Pro3, a 3D camera that scans properties; Matterport Pro2, a 3D camera that captures spaces; and 360 Cameras. It also provides Matterport Axis, a motorized mount that can be used with the Matterport Capture app to capture 3D digital twins of any physical space with increased speed, precision, and consistency. It offers solutions for residential and commercial real estate, facilities management and retail, AEC, insurance and repair, and travel and hospitality. Matterport, Inc. is headquartered in Sunnyvale, California.
