Matterport (NASDAQ:MTTR) Given Market Perform Rating at Northland Securities

Matterport (NASDAQ:MTTR)‘s stock had its “market perform” rating reiterated by research analysts at Northland Securities in a report issued on Tuesday, Benzinga reports. They presently have a $5.50 price target on the stock. Northland Securities’ price target suggests a potential upside of 19.70% from the stock’s previous close.

MTTR has been the topic of several other reports. Loop Capital reaffirmed a “hold” rating and set a $5.50 price target (up from $5.00) on shares of Matterport in a research report on Tuesday. BTIG Research began coverage on shares of Matterport in a research report on Friday, January 19th. They set a “neutral” rating on the stock. Wedbush decreased their price objective on shares of Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Finally, Piper Sandler upped their price objective on shares of Matterport from $3.00 to $5.50 and gave the company a “neutral” rating in a report on Monday. Six analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.50.

Matterport Price Performance

MTTR traded down $0.21 during trading on Tuesday, reaching $4.60. The company had a trading volume of 18,026,271 shares, compared to its average volume of 3,565,834. Matterport has a 12 month low of $1.73 and a 12 month high of $4.99. The business’s fifty day moving average price is $2.09 and its 200 day moving average price is $2.30. The company has a market cap of $1.43 billion, a P/E ratio of -7.00 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 for the quarter, meeting analysts’ consensus estimates 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 net margin of 126.20% and a negative return on equity of 36.35%. As a group, sell-side analysts predict that Matterport will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling at Matterport

In other news, CFO James Daniel Fay sold 25,000 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 1,314,918 shares of the company’s stock, valued at approximately $2,958,565.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO James Daniel Fay sold 25,000 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 1,314,918 shares of the company’s stock, valued at approximately $2,958,565.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Matthew Zinn sold 58,142 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $2.02, for a total transaction of $117,446.84. Following the sale, the insider now directly owns 396,121 shares of the company’s stock, valued at approximately $800,164.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 437,909 shares of company stock valued at $884,072. 16.10% of the stock is currently owned by company insiders.

Institutional Trading of Matterport

Several hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. lifted its stake in Matterport by 23.4% during the 4th 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 lifted its stake in Matterport by 16.3% during the 4th 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 4th quarter valued at $27,000. Principal Financial Group Inc. lifted its stake in Matterport by 39.1% during the 3rd 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 4th quarter valued at $28,000. Institutional investors and hedge funds 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.