Matterport (NASDAQ:MTTR) Receives New Price Target of $23.00 at Credit Suisse Group

Matterport (NASDAQ:MTTR) saw its price target lowered by Credit Suisse Group from $29.00 to $23.00 in a research report released on Thursday, Fly reports. The company currently has an “outperform” rating on the stock. Credit Suisse Group’s target price would suggest a potential upside of 190.40% from the company’s current price.

MTTR has been the subject of several other reports. Zacks Investment Research downgraded Matterport shares from a “hold” rating to a “sell” rating in a Wednesday, Jan. 5 research report. Deutsche Bank Aktiengesellschaft began covering Matterport shares in a research report on Wednesday, February 2. They issued a “buy” rating and a price target of $14.00 on the stock. Wedbush raised its price target on Matterport shares from $30.00 to $38.00 and gave the stock an “outperform” rating in a Tuesday, Nov. 30, research report. Finally, Piper Sandler lowered her price target on Matterport shares from $26.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday. One research analyst rated the stock with a sell rating and six issued a buy rating for the company’s stock. According to data from MarketBeat.com, Matterport currently has a consensus rating of “Buy” and an average price target of $17.00.

NASDAQ: MTTR opened at $7.92 on Thursday. Matterport has a fifty-two week minimum of $7.50 and a fifty-two week maximum of $37.60. The company’s fifty-day simple moving average is $15.26 and its 200-day simple moving average is $18.53.

Matterport Inc (NASDAQ:MTTR) last released its quarterly results on Wednesday, February 16. The company reported ($0.10) earnings per share for the quarter, meeting the Zacks consensus estimate of ($0.10). The company posted revenue of $27.09 million for the quarter, versus analyst estimates of $25.14 million. The company’s revenue increased 14.8% year over year. As a group, equity research analysts expect Matterport to post -1.73 earnings per share for the current fiscal year.

A number of large investors have recently increased or reduced their stakes in the company. Wolff Wiese Magana LLC bought a new position in Matterport stock during Q4 worth approximately $26,000. Captrust Financial Advisors bought a new position in Matterport stock during Q3 for a value of approximately $34,000. Vestcor Inc bought a new position in Matterport stock during Q3 worth approximately $36,000. Destiny Wealth Partners LLC purchased a new position in Matterport stock during Q3 for a value of approximately $38,000. Finally, Rockefeller Capital Management LP increased its stake in Matterport shares by 400.0% during the 4th quarter. Rockefeller Capital Management LP now owns 1,875 shares of the company worth $38,000 after acquiring an additional 1,500 shares during the period. Institutional investors hold 26.56% of the company’s shares.

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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