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

Matterport (NASDAQ:MTTR)‘s stock had its “hold” rating reaffirmed by investment analysts at Loop Capital in a research note issued on Tuesday, Benzinga reports. They presently have a $5.50 target price on the stock, up from their previous target price of $5.00. Loop Capital’s price objective suggests a potential upside of 18.53% from the stock’s previous close.

A number of other brokerages also recently issued reports on MTTR. Wedbush lowered their price objective on Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. BTIG Research initiated coverage on Matterport in a report on Friday, January 19th. They issued a “neutral” rating on the stock. Piper Sandler upped their price objective on shares of Matterport from $3.00 to $5.50 and gave the stock a “neutral” rating in a research report on Monday. Finally, Northland Securities initiated coverage on shares of Matterport in a research report on Thursday, April 11th. They set an “outperform” rating and a $3.50 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.50.

Matterport Stock Performance

Shares of MTTR 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’s 50-day simple moving average is $2.18 and its 200 day simple moving average is $2.33. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -7.03 and a beta of 1.73.

Matterport (NASDAQ:MTTR) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). Matterport had a negative net margin of 126.20% and a negative return on equity of 36.35%. The firm had revenue of $39.55 million for the quarter, compared to the consensus estimate of $40.11 million. On average, research analysts forecast that Matterport will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at Matterport

In related news, insider Matthew Zinn sold 58,142 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $2.02, for a total transaction of $117,446.84. Following the completion of the sale, the insider now directly owns 396,121 shares in the company, valued at approximately $800,164.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Matthew Zinn sold 58,142 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $2.02, for a total value of $117,446.84. Following the transaction, the insider now owns 396,121 shares in the company, valued at $800,164.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $2.26, for a total transaction of $56,500.00. Following the completion of the sale, the chief financial officer now directly owns 1,404,944 shares in the company, valued at approximately $3,175,173.44. 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. Company insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MTTR. SG Americas Securities LLC bought a new stake in shares of Matterport in the 3rd quarter worth approximately $559,000. Exchange Traded Concepts LLC increased its position in Matterport by 6.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,095,413 shares of the company’s stock valued at $6,717,000 after purchasing an additional 178,460 shares during the period. Commonwealth Equity Services LLC raised its holdings in Matterport by 132.0% in 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 in the last quarter. Raymond James & Associates lifted its position in shares of Matterport by 7.2% in 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 boosted 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 valued at $130,000 after purchasing an additional 21,179 shares in the last quarter. Institutional investors own 36.96% of the company’s stock.

Matterport Company Profile

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.