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

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

A number of other brokerages also recently issued reports on MTTR. Northland Securities began coverage on shares of Matterport in a research report on Thursday, April 11th. They issued an outperform rating and a $3.50 price target on the stock. Wedbush dropped their price target on shares of Matterport from $5.00 to $4.00 and set a neutral rating on the stock in a research report on Thursday, February 22nd. Finally, BTIG Research began coverage on shares of Matterport in a research report on Friday, January 19th. They issued a neutral rating on the stock. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $4.50.

Matterport Price Performance

NASDAQ:MTTR opened at $4.64 on Monday. The firm’s 50 day simple moving average is $2.18 and its 200 day simple moving average is $2.33. Matterport has a one year low of $1.73 and a one year high of $4.99. The company has a market cap of $1.44 billion, a PE ratio of -7.03 and a beta of 1.73.

Matterport (NASDAQ:MTTR) last posted its earnings results on Tuesday, February 20th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). The business had revenue of $39.55 million for the quarter, compared to the consensus estimate of $40.11 million. Matterport had a negative net margin of 126.20% and a negative return on equity of 36.35%. Equities research analysts expect that Matterport will post -0.45 EPS for the current year.

Insider Activity

In other news, CEO Raymond J. Pittman sold 72,096 shares of Matterport stock in a transaction on Monday, March 4th. The shares were sold at an average price of $2.02, for a total value of $145,633.92. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Raymond J. Pittman sold 72,096 shares of Matterport stock in a transaction on Monday, March 4th. The shares were sold at an average price of $2.02, for a total value of $145,633.92. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jay Remley sold 13,261 shares of Matterport stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $1.94, for a total transaction of $25,726.34. Following the completion of the sale, the executive now owns 1,038,563 shares of the company’s stock, valued at approximately $2,014,812.22. The disclosure for this sale can be found here. Insiders sold 437,909 shares of company stock worth $884,072 in the last quarter. 16.10% of the stock is owned by corporate insiders.

Institutional Trading of Matterport

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Matterport by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 23,383,072 shares of the company’s stock valued at $50,741,000 after purchasing an additional 306,958 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Matterport by 4.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,221,465 shares of the company’s stock valued at $8,666,000 after purchasing an additional 126,052 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Matterport by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,864,667 shares of the company’s stock valued at $4,046,000 after purchasing an additional 90,581 shares in the last quarter. G2 Investment Partners Management LLC increased its stake in Matterport by 136.7% during the 4th quarter. G2 Investment Partners Management LLC now owns 1,396,528 shares of the company’s stock valued at $3,757,000 after purchasing an additional 806,528 shares in the last quarter. Finally, Itau Unibanco Holding S.A. increased its stake in Matterport by 8.1% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 909,172 shares of the company’s stock valued at $1,973,000 after purchasing an additional 68,030 shares in the last quarter. Institutional investors 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.