Matterport Inc. [MTTR] stock Downgrade by Wedbush analyst, price target now $6

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Matterport Inc. [NASDAQ: MTTR] traded at a low on 05/03/22, posting a -8.26 loss after which it closed the day’ session at $5.55. The company report on April 28, 2022 that Matterport Expands Presence in Japan to Support Growing Demand for Digital Twin Platform.

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Company continues investing in Asia-Pacific region to capture the Japanese property market of more than 324M spaces.

Matterport, Inc. (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world, today announced it is expanding its presence in Japan. Japan represents one of the largest property markets in the world with more than 324 million physical spaces ready to be digitized. As part of the expansion, Matterport will increase investments to open new sales channels and broaden its customer service operations to support the growing adoption of the Matterport digital twin platform within the country.

The results of the trading session contributed to over 8259432 shares changing hands. Over the past one week, the price volatility of Matterport Inc. stands at 8.13% while the volatility over the past one month is 7.71%.

The market cap for MTTR stock reached $1.61 billion, with 245.93 million shares outstanding. Compared to the average trading volume of 9.16M shares, MTTR reached a trading volume of 8259432 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Matterport Inc. [MTTR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MTTR shares is $12.14 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MTTR stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wedbush have made an estimate for Matterport Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 03, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on April 19, 2022, representing the official price target for Matterport Inc. stock. Previously, the target price had yet another raise to $14, while Deutsche Bank analysts kept a Buy rating on MTTR stock.

The Average True Range (ATR) for Matterport Inc. is set at 0.55, with the Price to Sales ratio for MTTR stock in the period of the last 12 months amounting to 14.50. The Price to Book ratio for the last quarter was 5.09, with the Price to Cash per share for the same quarter was set at 1.39.

How has MTTR stock performed recently?

Matterport Inc. [MTTR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.98. With this latest performance, MTTR shares dropped by -32.65% in over the last four-week period, additionally sinking by -77.56% over the last 6 months – not to mention a drop of -55.28% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MTTR stock in for the last two-week period is set at 35.50, with the RSI for the last a single of trading hit 33.35, and the three-weeks RSI is set at 37.06 for Matterport Inc. [MTTR]. The present Moving Average for the last 50 days of trading for this stock 7.17, while it was recorded at 5.77 for the last single week of trading, and 15.33 for the last 200 days.

Matterport Inc. [MTTR]: Deeper insight into the fundamentals

Matterport Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 13.00 and a Current Ratio set at 13.10.

Insider trade positions for Matterport Inc. [MTTR]

There are presently around $479 million, or 35.20% of MTTR stock, in the hands of institutional investors. The top three institutional holders of MTTR stocks are: DCM INTERNATIONAL VI, LTD. with ownership of 19,858,056, which is approximately New of the company’s market cap and around 1.30% of the total institutional ownership; QUALCOMM INC/DE, holding 11,325,988 shares of the stock with an approximate value of $68.52 million in MTTR stocks shares; and TIGER GLOBAL MANAGEMENT LLC, currently with $45.38 million in MTTR stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Matterport Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 157 institutional holders increased their position in Matterport Inc. [NASDAQ:MTTR] by around 49,583,447 shares. Additionally, 65 investors decreased positions by around 10,781,507 shares, while 21 investors held positions by with 18,811,727 shares. The mentioned changes placed institutional holdings at 79,176,681 shares, according to the latest SEC report filing. MTTR stock had 93 new institutional investments in for a total of 42,371,132 shares, while 42 institutional investors sold positions of 8,663,772 shares during the same period.