The short answer as to why Matterport dropped is that the third-quarter earnings report that it released after the close of trading Wednesday disappointed investors. On the surface, its numbers looked great.
What's happening with Matterport (MTTR) stock?
Apr 07, 2022 · What's going on at Matterport (NASDAQ:MTTR)? View breaking news headlines for MTTR stock from trusted media outlets at MarketBeat.
What is MTTR?
Feb 17, 2022 · Following the announcement, MTTR stock’s fall escalated in the after-hours as it lost a further 12.50%. Hence, the stock was trading at $6.93 per share at an after-hours volume of 3.38 million shares on Wednesday. The spatial data …
What drove Matterport stock 53% drop in January?
Nov 04, 2021 · Shares were down by more than 8% at 10:30 a.m. EDT, after having fallen by as much as 12% earlier in the trading session. So what The short answer as to why Matterport dropped is that the...
Why did technology stocks rise on the last day of the month?
Find the latest Matterport, Inc. (MTTR) stock discussion in Yahoo Finance's forum. Share your opinion and gain insight from other stock traders and investors.
Is MTTR a good stock to buy?
Matterport's analyst rating consensus is a 'Strong Buy. This is based on the ratings of 6 Wall Streets Analysts.
What happened Mttrw stock?
Stock Price & Overview. MTTRW is defunct since January 17, 2022.
Is Matterport stock a buy now?
In the material world earnings can matter dearly. But on Wall Street, perception can matter nearly as much, if not more. And today both are working against Matterport's (NASDAQ:MTTR) MTTR stock.Mar 16, 2022
Is Matterport a buy 2022?
Matterport stock has been beaten down in 2022, and the Q4 report has accelerated the decline. Matterport's transition to a subscription model should pay off eventually, thanks to its high-margin nature.Mar 3, 2022
Is Matterport a public company?
Matterport ( MTTR 0.00% ), a developer of 3D spatial mapping tools, went public by merging with a special purpose acquisition company (SPAC) in late July. Its stock opened at $14.42 per share on the first day, and more than doubled over the following four months to about $32 today.Dec 3, 2021
What is a stock warrant agreement?
A stock warrant represents the right to purchase a company's stock at a specific price and at a specific date. A stock warrant is issued directly by a company to an investor. Stock options are purchased when it is believed the price of a stock will go up or down. Stock options are typically traded between investors.
Is Roblox a buy?
On Monday, Roblox (RBLX) stock showed a rare bout of strength, climbing 2.13%. The gains came even as the Nasdaq closed deep in the red....Roblox Stock Is Right on the Edge of Being a Buy.TickerCompanyCurrent PriceRBLXRoblox$46.343 days ago
How high does MTTR go?
Stock Price Forecast The 6 analysts offering 12-month price forecasts for Matterport Inc have a median target of 11.00, with a high estimate of 15.00 and a low estimate of 9.00. The median estimate represents a +55.37% increase from the last price of 7.08.
Why are Matterport shares falling?
This decline is probably due in part to market dynamics (investors have been rotating out of interest-rate-sensitive growth stocks ahead of expectations of rising rates in 2022), and also due in part to what was an overdone run-up in the months that followed the stock's debut on the Nasdaq.Mar 4, 2022
Where will Matterport stock be in 5 years?
During its most recent investor day, Matterport projected $747 million in annual sales by 2025, which would represent a CAGR of 59 percent between 2019 and 2025. It also expects its gross margin to rise from 48 percent to 73 percent during the same time period's....Matterport Stock Forecast 2025.Calendar dateRegular2025 January 01, Wednesday131.174Feb 16, 2022
What stock has dropped the most in 2022?
FB has shed $356 billion in market value in 2022, dealing a big blow to the market-cap-weighted S&P 500. PayPal Holdings (PYPL, $105.20) was the S&P 500's biggest loser through Feb.Feb 18, 2022
Can I buy metaverse stock?
Like other stocks, an investor can buy metaverse stocks through a brokerage. If you're new to investing, a financial advisor can help you navigate choosing investments and executing trades.Mar 23, 2022
The spatial data company delivered somewhat disappointing third-quarter results
Matt is a Certified Financial Planner based in South Carolina who has been writing for The Motley Fool since 2012. Matt specializes in writing about bank stocks, REITs, and personal finance, but he loves any investment at the right price. Follow him on Twitter to keep up with his latest work! Follow @TMFMathGuy
What happened
The stock market was up slightly on Thursday morning, but spatial data company Matterport ( NASDAQ:MTTR) was a notable exception. Shares were down by more than 8% at 10:30 a.m. EDT, after having fallen by as much as 12% earlier in the trading session.
So what
The short answer as to why Matterport dropped is that the third-quarter earnings report that it released after the close of trading Wednesday disappointed investors.
Now what
First off, it's important to keep this move in perspective. Even after Thursday morning's plunge, Matterport is still up by about 47% over the past three months.
Not All About Meta
If you have been following Matterport, it’s probably only been since very recently. The company was relatively obscure prior to Facebook’s Oct. 28 rebrand into Meta Platforms.
Digesting November News
It seems a bit counterintuitive that the market should be punishing Matterport for a November earnings report given that it is now late January. However, timing matters here. The Meta Platforms rebrand happened a few weeks before Matterport’s earnings dropped.
Earnings Boomerang for MTTR Stock
Those earnings are boomeranging back to haunt the company. On Nov. 3 the notions that third-quarter (Q3) total subscribers were up 116% year-over-year (YOY) and subscription revenue was up 36% were enough to satisfy any nagging doubts.
Deeper Dive
There were some real issues going on. Company wide revenues increased to $27.655 million in Q3, up slightly from $25.074 million a year earlier. But that increase was choppy. Subscription revenue increased 36%, reaching $15.677 million.
Total Addressable Market
Matterport believes it sits in a market valued at $240 billion. But now that the metaverse talk has calmed some, it’s wise to understand what that really means.
What to do With MTTR Stock
I actually still like Matterport. The analysts covering it do, too. But I want to point out what can happen sometimes. Hype can overpower rationale. I think that’s a partial explanation of why MTTR stock is now down. The meta news was too overpowering and rationale is now catching up.
What happened
Shares of Matterport ( MTTR 10.68% ) gained 14.3% on Monday, according to data from S&P Global Market Intelligence. The stock of the spatial-data company got a boost from the strength of the market in general, and particular strength in the tech sector, as we'll further explore in a moment.
So what
Matterport released one piece of news on Monday: It has hired Tom Klein as chief marketing officer (CMO). Klein comes from Mailchimp, a leading marketing and commerce platform, where he was global CMO. While he seems to be a good hire for Matterport, this news probably was just a minor factor (if at all) in the stock's robust performance on Monday.
Now what
Matterport hasn't yet announced a date for the release of its fourth-quarter and full-year 2021 results. It will probably be in early or mid March, according to Yahoo! Finance's earnings date estimate.
The Revenue Miss
As I highlighted in my previous article, Matterport has been making some adjustments to its business model. In particular, it is moving from one-time licensing fees to recurring subscription fees.
Bears Latch Onto an Inconsistency
Matterport blamed its Q3 revenue miss partly on supply-chain problems. A big chunk of Matterport’s revenues comes from selling cameras to clients so that they can film their facilities and create 3D digital model of them using Matterport’s software.
The Verdict on MTTR Stock
The next two months could be treacherous for Matterport’s shares. Later this month, there will be a lockup expiration on a massive number of its shares owned by insiders.
