Berenberg Bank Thinks Matterport’s Stock is Going to Recover

Berenberg Bank analyst Berenberg Bank initiated coverage with a Buy rating on Matterport (MTTRResearch Report) on July 12 and set a price target of $12.00. The company’s shares closed last Wednesday at $3.88, close to its 52-week low of $3.51.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Matterport with a $8.00 average price target.

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Based on Matterport’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $28.51 million and net profit of $71.9 million. In comparison, last year the company earned revenue of $26.93 million and had a GAAP net loss of $2.87 million.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MTTR in relation to earlier this year.

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Matterport, Inc. is a spatial data company. Its AI-based platform allows users to create a 3D digital representation of any built space. The “digital twin” images it produces are useful for a wide range of industries, including real estate, hospitality, insurance, facilities management, construction, engineering and architecture. The company is headquartered in Sunnyvale, California.

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