Matterport Inc. (NASDAQ: MTTR) stock jumped 8.13% on Friday to $4.79 against a previous-day closing price of $4.43. With 3.67 million shares changed hands, the volume of the stock remained lighter than its average volume of 6.2 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $4.8400 whereas the lowest price it dropped to was $4.4700. The 52-week range on MTTR shows that it touched its highest point at $37.60 and its lowest point at $3.51 during that stretch. It currently has a 1-year price target of $8.57.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MTTR was up-trending over the past week, with a rise of 16.55%, but this was up by 20.35% over a month. Three-month performance dropped to -13.69% while six-month performance fell -50.05%. The stock lost -68.07% in the past year, while it has lost -76.79% so far this year. A look at the trailing 12-month EPS for MTTR yields -1.42 with Next year EPS estimates of -0.38. For the next quarter, that number is -0.14. This implies an EPS growth rate of -692.10% for this year and 20.40% for next year.
Float and Shares Shorts:
At present, 275.20 million MTTR shares are outstanding with a float of 270.60 million shares on hand for trading. On Jul 14, 2022, short shares totaled 36.26 million, which was 12.86% higher than short shares on Jun 14, 2022. In addition to Mr. Raymond J. Pittman as the firm’s Chairman & CEO, Mr. James Daniel Fay serves as its Chief Financial Officer.
Through their ownership of 37.02% of MTTR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.50% of MTTR, in contrast to 13.40% held by mutual funds. Shares owned by individuals account for 11.90%. As the largest shareholder in MTTR with 4.19% of the stake, The Vanguard Group, Inc. holds 11,813,930 shares worth 11,813,930. A second-largest stockholder of MTTR, Tiger Global Management LLC, holds 3,600,000 shares, controlling over 1.28% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in MTTR, holding 3,229,531 shares or 1.15% stake. With a 2.35% stake in MTTR, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 6,631,980 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.70% of MTTR stock, is the second-largest Mutual Fund holder. It holds 4,804,880 shares valued at 17.59 million. Vanguard Extended Market Index Fu holds 1.06% of the stake in MTTR, owning 2,986,941 shares worth 10.93 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MTTR since 7 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MTTR analysts setting a high price target of $15.00 and a low target of $5.00, the average target price over the next 12 months is $8.57. Based on these targets, MTTR could surge 213.15% to reach the target high and rise by 4.38% to reach the target low. Reaching the average price target will result in a growth of 78.91% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MTTR will report FY 2022 earnings on 02/15/2023. Analysts have provided yearly estimates in a range of -$0.47 being high and -$0.53 being low. For MTTR, this leads to a yearly average estimate of -$0.50. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Matterport Inc. surprised analysts by $0.04 when it reported -$0.10 EPS against a consensus estimate of -$0.14. The surprise factor in the prior quarter was -$0.00. Based on analyst estimates, the high estimate for the next quarter is -$0.13 and the low estimate is -$0.14. The average estimate for the next quarter is thus -$0.14.
Summary of Insider Activity:
Insiders traded MTTR stock several times over the past three months with 4 Buys and 7 Sells. In these transactions, 923,839 shares were bought while 2,566,146 shares were sold. The number of buy transactions has increased to 31 while that of sell transactions has risen to 14 over the past year. The total number of shares bought during that period was 8,820,098 while 10,533,734 shares were sold.