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

Matterport (NASDAQ:MTTR) had its price target raised by Piper Sandler from $3.00 to $5.50 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential upside of 19.57% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Wedbush dropped their target price on Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. BTIG Research assumed coverage on shares of Matterport in a research note on Friday, January 19th. They issued a “neutral” rating on the stock. Finally, Northland Securities assumed coverage on shares of Matterport in a research note on Thursday, April 11th. They issued an “outperform” rating and a $3.50 price target on the stock. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $4.50.

Matterport Price Performance

NASDAQ MTTR opened at $4.60 on Monday. The stock’s fifty day moving average price is $2.13 and its 200 day moving average price is $2.31. Matterport has a 1 year low of $1.73 and a 1 year high of $4.99. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -6.97 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, hitting the consensus estimate of ($0.14). The company had revenue of $39.55 million for the quarter, compared to the consensus estimate of $40.11 million. Matterport had a negative return on equity of 36.35% and a negative net margin of 126.20%. Research analysts expect that Matterport will post -0.45 earnings per share for the current year.

Insider Activity at Matterport

In related news, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $2.26, for a total value of $56,500.00. Following the transaction, the chief financial officer now directly owns 1,404,944 shares of the company’s stock, valued at approximately $3,175,173.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Matterport 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 transaction, the chief financial officer now directly owns 1,404,944 shares of the company’s stock, valued at approximately $3,175,173.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the transaction, the insider now directly owns 396,121 shares in the company, valued at $800,164.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 437,909 shares of company stock valued at $884,072. 16.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Droms Strauss Advisors Inc. MO ADV purchased a new position in Matterport in the 4th quarter worth approximately $27,000. Apollon Wealth Management LLC acquired a new stake in shares of Matterport during the 4th quarter worth approximately $28,000. Private Advisor Group LLC acquired a new stake in shares of Matterport during the 4th quarter worth approximately $31,000. Choreo LLC acquired a new stake in shares of Matterport during the 4th quarter worth approximately $33,000. Finally, 180 Wealth Advisors LLC acquired a new stake in shares of Matterport during the 3rd quarter worth approximately $27,000. 36.96% of the stock is owned by hedge funds and other institutional investors.

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.