Matterport (NASDAQ:MTTR) Rating Reiterated by Northland Securities

Matterport (NASDAQ:MTTR)‘s stock had its “market perform” rating reissued by equities researchers at Northland Securities in a note issued to investors on Tuesday, Benzinga reports. They presently have a $5.50 target price on the stock. Northland Securities’ price target suggests a potential upside of 18.53% from the company’s previous close.

Several other equities analysts also recently commented on the stock. Wedbush dropped their price objective on shares of Matterport from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. BTIG Research assumed coverage on shares of Matterport in a report on Friday, January 19th. They issued a “neutral” rating for the company. Loop Capital reiterated a “hold” rating and set a $5.50 target price (up from $5.00) on shares of Matterport in a research report on Tuesday. Finally, Piper Sandler upped their price target on shares of Matterport from $3.00 to $5.50 and gave the company a “neutral” rating in a research report on Monday. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $4.50.

Matterport Stock Performance

Shares of MTTR stock opened at $4.64 on Tuesday. Matterport has a 52-week low of $1.73 and a 52-week high of $4.99. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -7.03 and a beta of 1.73. The firm’s 50-day moving average is $2.18 and its 200-day moving average is $2.33.

Matterport (NASDAQ:MTTR) last issued 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. Sell-side analysts predict that Matterport will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Matterport news, CEO Raymond J. Pittman sold 69,539 shares of the stock in a transaction dated 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 sale, 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 accessible through this hyperlink. In other news, CEO Raymond J. Pittman sold 69,539 shares of Matterport 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 completion of the sale, the chief executive officer now owns 3,231,873 shares in the company, valued at approximately $6,269,833.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew Zinn sold 58,142 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $2.02, for a total transaction of $117,446.84. Following the transaction, the insider now directly owns 396,121 shares in the company, valued at $800,164.42. The disclosure for this sale can be found here. Insiders sold 437,909 shares of company stock valued at $884,072 over the last quarter. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MTTR. Victory Capital Management Inc. increased its holdings in shares of Matterport by 23.4% during the fourth quarter. Victory Capital Management Inc. now owns 33,901 shares of the company’s stock valued at $91,000 after acquiring an additional 6,425 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Matterport by 16.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,734 shares of the company’s stock worth $188,000 after buying an additional 9,793 shares during the last quarter. Droms Strauss Advisors Inc. MO ADV bought a new position in shares of Matterport in the fourth quarter valued at $27,000. Principal Financial Group Inc. grew its holdings in shares of Matterport by 39.1% during the third quarter. Principal Financial Group Inc. now owns 37,071 shares of the company’s stock valued at $80,000 after buying an additional 10,427 shares during the last quarter. Finally, Apollon Wealth Management LLC bought a new stake in shares of Matterport during the fourth quarter worth about $28,000. 36.96% of the stock is owned by institutional investors and hedge funds.

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.