Matterport (NASDAQ:MTTR) Price Target Raised to $5.50 at Piper Sandler

Matterport (NASDAQ:MTTR) had its price target lifted by Piper Sandler from $3.00 to $5.50 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages also recently weighed in on MTTR. Northland Securities assumed coverage on Matterport in a research report on Thursday, April 11th. They issued an outperform rating and a $3.50 target price for the company. Wedbush reduced their price target on Matterport from $5.00 to $4.00 and set a neutral rating for the company 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 investment analysts have rated the stock with a hold rating, According to MarketBeat, Matterport currently has an average rating of Hold and an average price target of $4.50.

Matterport Stock Up 0.9 %

Shares of NASDAQ MTTR opened at $4.68 on Monday. Matterport has a 1-year low of $1.73 and a 1-year high of $4.99. The business has a 50-day moving average of $2.22 and a 200-day moving average of $2.34.

Matterport (NASDAQ:MTTR) last issued its earnings results 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 return on equity of 36.35% and a negative net margin of 126.20%. The company had revenue of $39.55 million during the quarter, compared to the consensus estimate of $40.11 million. Analysts anticipate that Matterport will post -0.45 EPS for the current fiscal year.

Insider Activity

In other news, CFO James Daniel Fay sold 25,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 1,404,944 shares of the company’s stock, valued at $3,175,173.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO James Daniel Fay sold 25,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 1,404,944 shares of the company’s stock, valued at $3,175,173.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Raymond J. Pittman sold 72,096 shares of the company’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 $145,633.92. Following the transaction, the chief executive officer now directly owns 3,375,510 shares of the company’s stock, valued at $6,818,530.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 437,909 shares of company stock valued at $884,072. 16.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Matterport

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. 180 Wealth Advisors LLC bought a new position in Matterport in the 3rd quarter worth approximately $27,000. Droms Strauss Advisors Inc. MO ADV bought a new position in Matterport in the 4th quarter worth approximately $27,000. Apollon Wealth Management LLC bought a new position in Matterport in the 4th quarter worth approximately $28,000. Private Advisor Group LLC bought a new position in Matterport in the 4th quarter worth approximately $31,000. Finally, Choreo LLC bought a new position in Matterport in the 4th quarter worth approximately $33,000. 36.96% of the stock is owned by 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.