Matterport, Inc. (NASDAQ:MTTR) to Post Q1 2024 Earnings of ($0.13) Per Share, Northland Capmk Forecasts

Matterport, Inc. (NASDAQ:MTTR) – Investment analysts at Northland Capmk issued their Q1 2024 earnings per share estimates for Matterport in a report released on Wednesday, April 10th. Northland Capmk analyst M. Latimore expects that the company will earn ($0.13) per share for the quarter. The consensus estimate for Matterport’s current full-year earnings is ($0.45) per share. Northland Capmk also issued estimates for Matterport’s Q2 2024 earnings at ($0.12) EPS, Q3 2024 earnings at ($0.11) EPS, Q4 2024 earnings at ($0.11) EPS, FY2024 earnings at ($0.47) EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.06) EPS, Q3 2025 earnings at ($0.07) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.26) EPS.

Other equities research analysts have also issued research reports about the company. Northland Securities began coverage on Matterport in a research report on Thursday, April 11th. They set an “outperform” rating and a $3.50 target price on the stock. Piper Sandler restated a “neutral” rating and set a $3.00 target price on shares of Matterport in a research report on Wednesday, February 21st. BTIG Research began coverage on Matterport in a research report on Friday, January 19th. They set a “neutral” rating on the stock. Finally, Wedbush cut their target price on Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.40.

Matterport Price Performance

Shares of Matterport stock opened at $1.85 on Monday. Matterport has a one year low of $1.74 and a one year high of $3.78. The stock’s 50-day moving average is $2.09 and its 200 day moving average is $2.29. The firm has a market cap of $575.18 million, a price-to-earnings ratio of -2.80 and a beta of 1.73.

Matterport (NASDAQ:MTTR) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). The company had revenue of $39.55 million during the quarter, compared to analysts’ expectations of $40.11 million. Matterport had a negative return on equity of 36.35% and a negative net margin of 126.20%.

Insiders Place Their Bets

In other Matterport news, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $2.26, for a total value of $56,500.00. Following the transaction, the chief financial officer now owns 1,404,944 shares in the company, valued at $3,175,173.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $2.26, for a total value of $56,500.00. Following the completion of the sale, the chief financial officer now directly owns 1,404,944 shares of the company’s stock, valued at $3,175,173.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Jay Remley sold 13,748 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $2.02, for a total value of $27,770.96. Following the completion of the sale, the executive now directly owns 1,065,954 shares of the company’s stock, valued at $2,153,227.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 437,909 shares of company stock worth $884,072. Corporate insiders own 16.10% of the company’s stock.

Institutional Trading of Matterport

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC raised its stake in shares of Matterport by 21.0% in the third quarter. Barclays PLC now owns 120,020 shares of the company’s stock worth $260,000 after purchasing an additional 20,824 shares during the last quarter. Vanguard Group Inc. increased its position in Matterport by 1.3% in the third quarter. Vanguard Group Inc. now owns 23,383,072 shares of the company’s stock worth $50,741,000 after buying an additional 306,958 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Matterport by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,864,667 shares of the company’s stock worth $4,046,000 after buying an additional 90,581 shares during the last quarter. 180 Wealth Advisors LLC bought a new position in shares of Matterport in the third quarter worth $27,000. Finally, Dark Forest Capital Management LP bought a new position in shares of Matterport in the third quarter worth $291,000. 36.96% of the stock is owned by hedge funds and other 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.