Northland Securities Reiterates Market Perform Rating for Matterport (NASDAQ:MTTR)

Northland Securities reissued their market perform rating on shares of Matterport (NASDAQ:MTTR) in a research note issued to investors on Tuesday, Benzinga reports. Northland Securities currently has a $5.50 target price on the stock.

Several other equities analysts have also weighed in on MTTR. Loop Capital restated a hold rating and set a $5.50 price objective (up previously from $5.00) on shares of Matterport in a research report on Tuesday. Wedbush decreased their target price on shares of Matterport from $5.00 to $4.00 and set a neutral rating for the company in a report on Thursday, February 22nd. Piper Sandler raised their target price on shares of Matterport from $3.00 to $5.50 and gave the stock a neutral rating in a report on Monday, April 22nd. Finally, BTIG Research initiated coverage on shares of Matterport in a report on Friday, January 19th. They issued a neutral rating for the company. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Matterport presently has a consensus rating of Hold and an average target price of $4.50.

Matterport Trading Up 0.9 %

Matterport stock opened at $4.72 on Tuesday. Matterport has a 52 week low of $1.73 and a 52 week high of $4.99. The company’s 50-day moving average price is $2.27 and its two-hundred day moving average price is $2.36. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -7.15 and a beta of 1.73.

Matterport (NASDAQ:MTTR) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.14) earnings per share for the quarter, meeting 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 company had revenue of $39.55 million during the quarter, compared to analyst estimates of $40.11 million. Research analysts expect that Matterport will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Raymond J. Pittman sold 72,096 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 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 $6,818,530.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were 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 $3,175,173.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Raymond J. Pittman sold 72,096 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 transaction of $145,633.92. Following the transaction, the chief executive officer now directly owns 3,375,510 shares in the company, valued at approximately $6,818,530.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 437,909 shares of company stock worth $884,072. 16.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Matterport

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its position in 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 position in Matterport by 16.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,734 shares of the company’s stock valued at $188,000 after acquiring an additional 9,793 shares in the last quarter. Droms Strauss Advisors Inc. MO ADV bought a new position in Matterport during the fourth quarter valued at approximately $27,000. Principal Financial Group Inc. raised its position in 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 acquiring an additional 10,427 shares in the last quarter. Finally, Apollon Wealth Management LLC bought a new position in Matterport during the fourth quarter valued at approximately $28,000. 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.