Matterport (NASDAQ:MTTR) Releases Q4 2022 Earnings Guidance

Matterport (NASDAQ: MTTR – Get Rating ) updated its Q4 2022 earnings guidance on Saturday. The company provided earnings per share (EPS) guidance of -$0.11-$0.09 for the period, compared to the consensus estimate of -$0.12. The company issued revenue guidance of $39.00 million-$41.00 million, compared to the consensus revenue estimate of $38.78 million. Matterport also updated its FY 2022 guidance to -$0.43-$0.41 EPS.

Matterport Stock Performance

Shares of MTTR stock opened at $2.73 on Friday. Matterport has a fifty-two week low of $2.62 and a fifty-two week high of $25.54. The company has a 50 day moving average price of $3.37 and a 200 day moving average price of $4.09. The stock has a market cap of $784.71 million, a p/e ratio of -3.17 and a beta of 1.42.

Analyzer Upgrades and Downgrades

A number of analysts recently weighed in on the company. Piper Sandler boosted their price objective on Matterport from $5.00 to $6.00 and gave the stock an overweight rating in a research report on Friday, November 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on Matterport from $7.00 to $5.00 in a research note on Friday, November 11th. Morgan Stanley decreased their target price on shares of Matterport from $7.00 to $4.50 and set an equal weight rating on the stock in a research note on Wednesday, October 19th. Finally, Wolfe Research began coverage on shares of Matterport in a research note on Tuesday, August 16th. They have issued a market perform rating for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Matterport presently has an average rating of Moderate Buy and a consensus price target of $6.90.

Insider activity at Matterport

In other Matterport news, Director Jason Krikorian sold 867,094 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $4.66, for a total transaction of $4,040,658.04. Following the sale, the director now owns 18,562,912 shares of the company’s stock, valued at $86,503,169.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Raymond J. Pittman sold 243,709 shares of the firm’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $3.08, for a total transaction of $750,623.72. Following the transaction, the chief executive officer now owns 1,916,843 shares in the company, valued at approximately $5,903,876.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jason Krikorian sold 867,094 shares of Matterport stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $4.66, for a total value of $4,040,658.04. Following the transaction, the director now directly owns 18,562,912 shares in the company, valued at approximately $86,503,169.92. The disclosure for this sale can be found here. Insiders sold 1,727,368 shares of company stock worth $7,186,613 over the last three months. 24.20% of the shares are owned by corporate insiders.

Hedge funds weigh in on Matterport

Institutional investors have recently modified their holdings of the business. Samalin Investment Counsel LLC acquired a new stake in Matterport during the 1st quarter valued at $37,000. Verition Fund Management LLC bought a new stake in shares of Matterport in the second quarter worth about $47,000. Prudential Financial Inc. acquired a new stake in shares of Matterport during the second quarter worth about $60,000. Prelude Capital Management LLC bought a new position in shares of Matterport during the second quarter worth about $75,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Matterport during the second quarter worth about $76,000. 38.34% of the share is owned by institutional investors and hedge funds.

About Matterport

(Get rating)

Matterport, Inc, a spatial data company, focuses on digitization and data capture of the built world. It offers Matterport digital twin, a 3D data platform to design, build, operate, promote and understand spaces. The company offers Matterport Capture, an application that allows capturing depth, data and images of a space using 3D cameras, 360 cameras and iPhones; Matterport Workshop app to customize, add additional details and share spaces; Matterport Showcase app for audience viewing and exploring space in its final format; and Matterport VR to experience virtual reality.