The stock of Matterport Inc. (NASDAQ:MTTR) last traded at $2.41, down -2.82% from the previous session.
Data from the available sources indicates that Matterport Inc. (NASDAQ:MTTR) is covered by 6 analysts. 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 $3.50, we find $4.00. Given the previous closing price of $2.48, this indicates a potential upside of 61.29 percent. MTTR stock price is now -22.65% away from the 50-day moving average and -19.00% away from the 200-day moving average. The market capitalization of the company currently stands at $717.02M.
In total, 4 analysts have assigned it a hold rating, and 2 have given it a buy rating. Brokers who have rated the stock have averaged $4.80 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, Remley Jay, Chief Revenue Officer sold 40,000 shares of the company’s stock on Jul 12. The stock was sold for $141,488 at an average price of $3.54. Upon completion of the transaction, the Chief Revenue Officer now directly owns 745,965 shares in the company, valued at $1.8 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 02, Chief Executive Officer PITTMAN RAYMOND J sold 299,910 shares of the business’s stock. A total of $798,600 was realized by selling the stock at an average price of $2.66. This leaves the insider owning 2,418,691 shares of the company worth $5.83 million. Insiders disposed of 4,775,662 shares of company stock worth roughly $11.51 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 DIMENSIONAL FUND ADVISORS LP during the first quarter worth $3,982,000. INTRINSIC EDGE CAPITAL MANAGEMENT LLC invested $3,856,000 in shares of MTTR during the first quarter. In the first quarter, NORGES BANK acquired a new stake in Matterport Inc. valued at approximately $3,356,000. MILLENNIUM MANAGEMENT LLC acquired a new stake in MTTR for approximately $1,742,000. STRAIT & SOUND WEALTH MANAGEMENT LLC purchased a new stake in MTTR valued at around $541,000 in the second quarter. In total, there are 291 active investors with 40.80% ownership of the company’s stock.
With an opening price of $2.5000 on Thursday morning, Matterport Inc. (NASDAQ: MTTR) set off the trading day. During the past 12 months, Matterport Inc. has had a low of $2.20 and a high of $5.70. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 9.70, and a quick ratio of 9.50. The fifty day moving average price for MTTR is $3.1062 and a two-hundred day moving average price translates $2.9694 for the stock.
The latest earnings results from Matterport Inc. (NASDAQ: MTTR) was released for Jun, 2023. According to the Software – Application Company, earnings per share came in at -$0.07, beating analysts’ expectations of -$0.08 by 0.01. This compares to -$0.23 EPS in the same period last year. The company reported revenue of $39.57 million for the quarter, compared to $28.48 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 38.92 percent. For the current quarter, analysts expect MTTR to generate $39.13M 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.
