Matterport (NASDAQ:MTTR) Releases Q2 2022 Earnings Guidance

Matterport (NASDAQ:MTTRGet Rating) issued an update on its second quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of -$0.15–$0.13 for the period, compared to the consensus 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.

NASDAQ MTTR traded up $0.13 during trading hours on Thursday, hitting $5.25. 17,139 shares of the company traded hands, compared to its average volume of 7,742,931. The business’s 50-day moving average is $6.73 and its 200-day moving average is $13.46. Matterport has a twelve month low of $3.94 and a twelve month high of $37.60. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -2.68 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) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04. Matterport had a negative return on equity of 53.37% and a negative net margin of 233.50%. The firm had revenue of $28.51 million during the quarter, compared to analysts’ expectations of $27.47 million. During the same period in the prior year, the firm posted ($0.01) earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, research analysts forecast that Matterport will post -1.78 EPS for the current fiscal year.

Several analysts have issued reports on MTTR shares. Wedbush lowered Matterport from an outperform rating to a neutral rating and dropped their price objective for the company from $10.00 to $6.00 in a research note on Tuesday, May 3rd. Zacks Investment Research upgraded 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. Credit Suisse Group dropped their price objective on Matterport from $23.00 to $13.00 and set an outperform rating on the stock in a research note on Thursday, March 24th. Morgan Stanley started coverage on Matterport in a research note on Tuesday, April 19th. They issued an equal weight rating and a $9.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Matterport from $9.00 to $7.00 in a research note on Wednesday, May 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $11.84.

In other news, CEO Raymond J. Pittman bought 20,000 shares of the stock in a transaction dated Thursday, February 24th. The shares were bought at an average price of $6.61 per share, for a total transaction of $132,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

A number of institutional investors have recently bought and sold shares of MTTR. Captrust Financial Advisors bought a new position in Matterport during the 3rd quarter worth $34,000. Samalin Investment Counsel LLC bought a new position in Matterport during the 1st quarter worth $37,000. Lazard Asset Management LLC bought a new position in Matterport during the 1st quarter worth $82,000. Vontobel Holding Ltd. bought a new position in Matterport during the 1st quarter worth $84,000. Finally, KCM Investment Advisors LLC bought a new position in Matterport during the 1st quarter worth $91,000. Hedge funds and other institutional investors 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.

Further Reading

Earnings History and Estimates for Matterport (NASDAQ:MTTR)

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