Matterport Inc (NASDAQ: MTTR) Based on average analyst recommendation of ‘Buy’


Matterport Inc (NASDAQ: MTTR) has obtained a consensus recommendation to “Buy” from the six rating companies currently hedging the stock, reports MarketBeat Ratings. One equity research analyst rated the stock with a conservation rating and five gave the company a buy rating. The one-year average price target among brokers who reported on the stock in the past year is $ 27.40.

A number of analysts recently commented on the company. Credit Suisse Group raised its price target on Matterport from $ 25.00 to $ 34.00 and gave the stock an “outperformance” rating in a research report published on Tuesday, November 23. They noted that the move was an appraisal call. Zacks investment research upgraded Matterport from a “sell” note to a “conservation” note in a research note on Thursday, November 11. Piper Sandler raised her price target on Matterport from $ 18.00 to $ 20.00 and gave the company an “overweight” rating in a Friday September 10 research note. Berenberg Bank began covering Matterport in a research report on Wednesday, September 29. They set a “buy” rating and a target price of $ 25.00 for the stock. Finally, Wedbush raised its price target on Matterport from $ 30.00 to $ 38.00 and gave the stock an “outperformance” rating in a report released on Tuesday, November 30.

A number of institutional investors and hedge funds have recently changed their positions in MTTR. Foundations Investment Advisors LLC acquired a new stake in Matterport shares in the third quarter valued at approximately $ 373,000. Exchange Traded Concepts LLC purchased a new equity interest in Matterport during the third quarter valued at approximately $ 2,005,000. Belvedere Trading LLC purchased a new equity interest in Matterport during the third quarter valued at approximately $ 331,000. Kestra Advisory Services LLC purchased a new stake in Matterport shares in the third quarter valued at approximately $ 633,000. Finally, Exos Asset Management LLC purchased a new stake in Matterport shares in the third quarter valued at approximately $ 211,000. Hedge funds and other institutional investors hold 14.93% of the company’s shares.

MTTR action opened at $ 20.64 on Monday. The 50-day moving average share price is $ 24.22. Matterport has a fifty-two week minimum of $ 10.45 and a fifty-two week maximum of $ 37.60.

Matterport (NASDAQ: MTTR) last released its quarterly earnings data on Wednesday, November 3. The company reported ($ 0.20) earnings per share for the quarter, beating Thomson Reuters consensus estimate ($ 0.22) by $ 0.02. The company posted revenue of $ 27.66 million in the quarter, compared to analysts’ estimates of $ 29.20 million. As a group, analysts expect Matterport to post -0.25 EPS for the current fiscal year.

About Matterport

Matterport Inc is a spatial data company driving the digital transformation of the built world. Matterport Inc, formerly known as Gores Holdings VI, is based in SUNNYVALE, California.

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Analyst Recommendations for Matterport (NASDAQ: MTTR)

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