Matterport Inc (NASDAQ: MTTR): The Stock We Should Bet On For Economic Growth In The Months To Come

In the last trading session, 9.85 million shares of the Matterport Inc (NASDAQ:MTTR) were traded, and its beta was 1.70. Most recently the company’s share price was $2.26, and it changed around $0.31 or 15.90% from the last close, which brings the market valuation of the company to $702.66M. MTTR currently trades at a discount to its 52-week high of $3.78, offering almost -67.26% off that amount. The share price’s 52-week low was $1.74, which indicates that the current value has risen by an impressive 23.01% since then. We note from Matterport Inc’s average daily trading volume that its 10-day average is 4.12 million shares, with the 3-month average coming to 2.45 million.

Matterport Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.71. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 6 recommended MTTR as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Matterport Inc is expected to report earnings per share of -$0.03 for the current quarter.

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Matterport Inc (NASDAQ:MTTR) trade information

Instantly MTTR has showed a green trend with a performance of 15.90% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -15.99% year-to-date, but still up 19.58% over the last five days. On the other hand, Matterport Inc (NASDAQ:MTTR) is 6.60% up in the 30-day period. We can see from the shorts that 7.16 million shares have been sold at a short interest cover period of 2.08 day(s).

The consensus price target as assigned by Wall Street analysts is $7.75, which translates to bulls needing to increase their stock price by 70.84% from its current value. Analyst projections state that MTTR is forecast to be at a low of $3 and a high of $15.

Matterport Inc (MTTR) estimates and forecasts

Matterport Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 4.15 percent over the past six months and at a 59.09% annual growth rate that is well above the industry average of 16.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 57.10% in revenue this quarter, and will report an increase of 57.10% in the next quarter. The year-over-year growth rate is expected to be 11.60%, up from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $40.08 million in revenue for the current quarter. 5 analysts expect Matterport Inc to make $43.78 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 5.50%.

MTTR Dividends

Matterport Inc’s next quarterly earnings report is expected to be released around May 07 and May 13.

Matterport Inc (NASDAQ:MTTR)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.99% of Matterport Inc shares, and 46.27% of them are in the hands of institutional investors. The stock currently has a share float of 47.21%. Matterport Inc stock is held by 290 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 7.68% of the shares, which is about 23.89 million shares worth $53.98 million.

Blackrock Inc., with 7.65% or 23.8 million shares worth $53.79 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Dec 30, 2023. The former held 7.85 million shares worth $17.74 million, making up 2.53% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 6.4 million shares worth around $14.46 million, which represents about 2.06% of the total shares outstanding.