Loop Capital Reiterates Hold Rating for Matterport (NASDAQ:MTTR)

Loop Capital reiterated their hold rating on shares of Matterport (NASDAQ:MTTR) in a research note published on Tuesday morning, Benzinga reports. Loop Capital currently has a $5.50 price objective on the stock, up from their prior price objective of $5.00.

Other equities analysts have also issued research reports about the company. Northland Securities assumed coverage on Matterport in a report on Thursday, April 11th. They issued an outperform rating and a $3.50 target price on the stock. Piper Sandler raised their price objective on Matterport from $3.00 to $5.50 and gave the stock a neutral rating in a report on Monday, April 22nd. Wedbush lowered their price target on Matterport from $5.00 to $4.00 and set a neutral rating on the stock in a report on Thursday, February 22nd. Finally, BTIG Research started coverage on Matterport in a report on Friday, January 19th. They set a neutral rating on the stock. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $4.50.

Matterport Price Performance

NASDAQ:MTTR opened at $4.72 on Tuesday. The firm has a market capitalization of $1.47 billion, a PE ratio of -7.15 and a beta of 1.73. The business’s fifty day moving average price is $2.27 and its 200 day moving average price is $2.36. Matterport has a 12 month low of $1.73 and a 12 month high of $4.99.

Matterport (NASDAQ:MTTR) last posted its earnings results on Tuesday, February 20th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). The firm had revenue of $39.55 million for the quarter, compared to analyst estimates of $40.11 million. Matterport had a negative return on equity of 36.35% and a negative net margin of 126.20%. As a group, equities analysts anticipate that Matterport will post -0.45 EPS for the current year.

Insider Buying and Selling

In related news, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $2.25, for a total value of $56,250.00. Following the completion of the sale, the chief financial officer now owns 1,314,918 shares in the company, valued at $2,958,565.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Raymond J. Pittman sold 72,096 shares of Matterport stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $2.02, for a total transaction of $145,633.92. Following the completion of the sale, the chief executive officer now directly owns 3,375,510 shares in the company, valued at approximately $6,818,530.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO James Daniel Fay sold 25,000 shares of Matterport stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $2.25, for a total transaction of $56,250.00. Following the sale, the chief financial officer now owns 1,314,918 shares of the company’s stock, valued at $2,958,565.50. The disclosure for this sale can be found here. Insiders have sold a total of 437,909 shares of company stock valued at $884,072 over the last quarter. 16.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Matterport

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its position in shares of Matterport by 21.0% during the 3rd quarter. Barclays PLC now owns 120,020 shares of the company’s stock valued at $260,000 after acquiring an additional 20,824 shares during the period. Vanguard Group Inc. grew its stake in Matterport by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 23,383,072 shares of the company’s stock worth $50,741,000 after acquiring an additional 306,958 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Matterport by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,864,667 shares of the company’s stock worth $4,046,000 after acquiring an additional 90,581 shares during the period. 180 Wealth Advisors LLC purchased a new stake in Matterport in the 3rd quarter worth approximately $27,000. Finally, Dark Forest Capital Management LP purchased a new stake in Matterport in the 3rd quarter worth approximately $291,000. 36.96% of the stock is currently owned by institutional investors and hedge funds.

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.