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

Loop Capital reissued their hold rating on shares of Matterport (NASDAQ:MTTR) in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a $5.50 price target on the stock, up from their prior price target of $5.00.

Several other equities research analysts have also weighed in on the company. Wedbush dropped their target price on Matterport from $5.00 to $4.00 and set a neutral rating on the stock in a research report on Thursday, February 22nd. Northland Securities initiated coverage on Matterport in a research note on Thursday, April 11th. They issued an outperform rating and a $3.50 price target for the company. Piper Sandler increased their price target on Matterport from $3.00 to $5.50 and gave the stock a neutral rating in a research note on Monday. Finally, BTIG Research began coverage on Matterport in a research note on Friday, January 19th. They set a neutral rating for the company. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $4.50.

Matterport Stock Down 4.2 %

Shares of MTTR opened at $4.60 on Tuesday. The business’s 50 day moving average is $2.13 and its two-hundred day moving average is $2.31. Matterport has a 52-week low of $1.73 and a 52-week high of $4.99. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -6.97 and a beta of 1.73.

Matterport (NASDAQ:MTTR) last announced its earnings results on Tuesday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $40.11 million. On average, equities analysts expect that Matterport will post -0.45 earnings per share for the current fiscal year.

Insider Activity at Matterport

In related news, CEO Raymond J. Pittman sold 69,539 shares of the firm’s 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 transaction, the chief executive officer now owns 3,231,873 shares of the company’s stock, valued at $6,269,833.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Raymond J. Pittman sold 72,096 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 value of $145,633.92. Following the completion of the transaction, the chief executive officer now owns 3,375,510 shares in the company, valued at approximately $6,818,530.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Raymond J. Pittman sold 69,539 shares of the 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 transaction, the chief executive officer now owns 3,231,873 shares of the company’s stock, valued at approximately $6,269,833.62. The disclosure for this sale can be found here. Insiders sold 437,909 shares of company stock valued at $884,072 over the last 90 days. 16.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Matterport

A number of hedge funds and other institutional investors have recently modified their holdings of MTTR. 180 Wealth Advisors LLC purchased a new stake in Matterport in the 3rd quarter worth about $27,000. Droms Strauss Advisors Inc. MO ADV purchased a new stake in Matterport in the 4th quarter worth about $27,000. Apollon Wealth Management LLC purchased a new stake in shares of Matterport during the 4th quarter worth about $28,000. Private Advisor Group LLC purchased a new stake in shares of Matterport during the 4th quarter worth about $31,000. Finally, Choreo LLC purchased a new stake in shares of Matterport during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 36.96% of the company’s stock.

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.