Matterport (NASDAQ:MTTR) Issues Q2 2022 Earnings Guidance

Matterport (NASDAQ:MTTRGet Rating) updated its second quarter 2022 earnings guidance on Tuesday. The company provided EPS guidance of -$0.15–$0.13 for the period, compared to the consensus EPS estimate of -$0.12. The company issued revenue guidance of $28.50 million-$30.50 million, compared to the consensus revenue estimate of $31.00 million.Matterport also updated its FY 2022 guidance to -$0.52–$0.47 EPS.

A number of research firms have issued reports on MTTR. Morgan Stanley began coverage on Matterport in a research note on Tuesday, April 19th. They issued an equal weight rating and a $9.00 target price on the stock. Piper Sandler cut their price objective on shares of Matterport from $10.00 to $7.00 in a research note on Friday, April 29th. Zacks Investment Research upgraded shares of Matterport from a hold rating to a buy rating and set a $7.75 price objective on the stock in a research note on Saturday, February 26th. Wedbush cut shares of Matterport from an outperform rating to a neutral rating and cut their price objective for the company from $10.00 to $6.00 in a research note on Tuesday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Matterport from $9.00 to $7.00 in a research note on Wednesday, May 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Buy and a consensus price target of $11.84.

Matterport stock traded up $0.16 during midday trading on Wednesday, hitting $5.14. The company’s stock had a trading volume of 87,767 shares, compared to its average volume of 10,112,276. The stock’s 50-day moving average price is $6.60 and its 200-day moving average price is $12.90. Matterport has a 12 month low of $3.94 and a 12 month high of $37.60. The company has a market capitalization of $1.45 billion, a PE ratio of -2.61 and a beta of 1.60.

Matterport (NASDAQ:MTTRGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $28.51 million for the quarter, compared to analysts’ expectations of $27.47 million. Matterport had a negative return on equity of 53.37% and a negative net margin of 233.50%. Matterport’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. As a group, equities analysts predict that Matterport will post -1.07 EPS for the current fiscal year.

In other Matterport news, Director Jason Krikorian sold 760,500 shares of Matterport stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $5.37, for a total transaction of $4,083,885.00. Following the transaction, the director now owns 20,433,549 shares of the company’s stock, valued at approximately $109,728,158.13. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Raymond J. Pittman bought 20,000 shares of the stock in a transaction on Thursday, February 24th. The shares were acquired at an average cost of $6.61 per share, for a total transaction of $132,200.00. The disclosure for this purchase can be found here.

Several institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of Matterport during the 1st quarter valued at about $115,000. Quantbot Technologies LP acquired a new stake in shares of Matterport during the 1st quarter valued at about $174,000. First Republic Investment Management Inc. lifted its holdings in Matterport by 31.0% in the 1st quarter. First Republic Investment Management Inc. now owns 13,277 shares of the company’s stock worth $108,000 after purchasing an additional 3,144 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Matterport by 737.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,574,336 shares of the company’s stock worth $12,783,000 after purchasing an additional 1,821,154 shares during the last quarter. Finally, State Street Corp lifted its holdings in Matterport by 20.4% in the 1st quarter. State Street Corp now owns 813,727 shares of the company’s stock worth $6,607,000 after purchasing an additional 138,031 shares during the last quarter. Institutional investors and hedge funds own 41.53% of the company’s stock.

Matterport Company Profile (Get Rating)

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

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Earnings History and Estimates for Matterport (NASDAQ:MTTR)

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