Matterport (NASDAQ:MTTR) Releases Q4 2022 Earnings Guidance
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.
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.
This instant news alert is generated using narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial staff prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Matterport, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best-performing research analysts and the stocks they recommend to their clients daily. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market takes off … and Matterport wasn’t on the list.
While Matterport currently has a “moderate buy” rating among analysts, top rated analysts believe these five stocks are better buys.
Check out the five stocks here