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

Matterport (NASDAQ:MTTR) had its price objective upped by Piper Sandler from $3.00 to $5.50 in a research report sent to investors on Monday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other analysts have also weighed in on MTTR. Northland Securities started coverage on shares of Matterport in a report on Thursday, April 11th. They set an outperform rating and a $3.50 price objective for the company. BTIG Research started coverage on shares of Matterport in a report on Friday, January 19th. They set a neutral rating for the company. Finally, Wedbush dropped their price objective 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. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Matterport has a consensus rating of Hold and an average target price of $4.50.

Matterport Stock Performance

Shares of MTTR opened at $4.68 on Monday. Matterport has a 12 month low of $1.73 and a 12 month high of $4.99. The company has a 50-day moving average price of $2.22 and a two-hundred day moving average price of $2.34.

Matterport (NASDAQ:MTTR) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). The firm had revenue of $39.55 million during the quarter, compared to analysts’ expectations of $40.11 million. Matterport had a negative net margin of 126.20% and a negative return on equity of 36.35%. Analysts expect that Matterport will post -0.45 EPS for the current fiscal year.

Insider Activity at Matterport

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 value of $56,500.00. Following the completion of the sale, the chief financial officer now owns 1,404,944 shares of the company’s stock, valued at $3,175,173.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Matterport news, CFO James Daniel Fay sold 25,000 shares of Matterport stock in a transaction 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 owns 1,404,944 shares of the company’s stock, valued at approximately $3,175,173.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Raymond J. Pittman sold 72,096 shares of Matterport stock in a transaction on Monday, March 4th. The stock was sold at an average price of $2.02, for a total transaction of $145,633.92. Following the sale, the chief executive officer now directly owns 3,375,510 shares of the company’s stock, valued at approximately $6,818,530.20. The disclosure for this sale can be found here. Insiders sold a total of 437,909 shares of company stock valued at $884,072 over the last quarter. Corporate insiders own 16.10% of the company’s stock.

Institutional Trading of Matterport

Institutional investors have recently bought and sold shares of the business. 180 Wealth Advisors LLC acquired a new stake in Matterport during the 3rd quarter worth $27,000. Droms Strauss Advisors Inc. MO ADV acquired a new stake in Matterport during the 4th quarter worth $27,000. Apollon Wealth Management LLC acquired a new stake in Matterport during the 4th quarter worth $28,000. Private Advisor Group LLC bought a new position in shares of Matterport during the fourth quarter worth $31,000. Finally, Choreo LLC bought a new position in shares of Matterport during the fourth quarter worth $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.