MTTR Stock Forecast: Will MTTR Reach $5 In 2022?

MTTR Stock Forecast: Will MTTR Reach $5 In 2022?

MTTR Stock Forecast: MTTR stock price is predicted to remain below $5 by the end of 2022. The average MTTR Stock Prediction for the next 12 Months is $6.9

Latest MTTR Price

MTTR Performance in 2022

  • 1 M: -21.4%
  • 3 M: -31.1%
  • YTD: -85.47%

Matterport Inc. is a data company that is focused on digitalizing and indexing the built world. The company aims to turn buildings into data to make nearly every space more valuable and accessible. Matterport offers different applications to make the optimal utilization of spaces.

  • Matterport Capture enables to capture of depth, data, and imagery of space using 3D cameras.
  • Matterport Workshop Application helps to customize, add additional details, and share spaces.
  • Matterport Showcase application is used for the audience display. It gives an idea about the final format to the audience
  • Matterport VR is used for virtual reality.

MTTR Stock Forecast: Latest Development of Matterport Inc

Matterport is expanding itself in form of acquisitions and partnerships. Few of the latest developments of Matterport Inc. are:

Partnership with Burns & McDonnell: Burns and McDonnell is an engineering, construction, and architecture firm. The company partnered with Matterport Inc. to deliver the Matterport Digital Twin Platform.

Partnership with North Carolina Regional MLS: North Carolina Regional MLS is one of the largest multiple-listing companies in North Carolina. The company represents nearly 12,000 realtors and appraisers.

Acquisition of VHT Inc.: VHT Inc. is a U.S.-based real estate marketing company that offers brokerages and agents digital solutions to promote and sell properties.

MTTR Stock Forecast: 12 Months Prediction

Average MTTR Stock Predictions for the next 12 Months$6.9
Deutsche Bank Aktiengesellschaft$5
Morgan Stanley$4.5
Wedbush$6
Credit Suisse Group$13
Piper Sandler$6

MTTR Stock Forecast: Technical Analysis

MTTR has been one of the worst-performing stocks in its category this year. A year back MTTR was trading at over $30 and now MTTR is below $5 and in form of a penny stock. The fall in the stock price of MTTR started in the last week of November 2021. MTTR was close to $34 back then but with 13 months, now the stock is trading close to $3.

Here is the YTD performance of MTTR WRT its Competitors:

  • MTTR: -85.7%
  • RENN: +95.5%
  • MGIC: -26.3%
  • CLBT: -46.5%
image 489

MTTR Performance on the Last Trading Day

  • Open Price: $2.77
  • Close Price: $2.80
  • Gain/Loss: +1.82%
  • Overall Market Cap: $804,841,850

MTTR Technical Analysis

image 490

On the chart above, MTTR is trading below its 50-day and 200-day moving averages. However, there has been a reversal in MTTR price and it is expected to rise on the next trading day. MTTR is on the verge of forming a Golden Cross with the 50-day Moving average. If so happens, the MTTR stock price may see a massive surge.

The current first level of support for MTTR is $2.61 and the resistance is $2.93. With current momentum, MTTR may breach the first level of resistance and in case of an extended bull run, MTTR will be above $3 facing the resistance at $3.10.

Overall, the momentum is Bullish and MTTR is setting up for rising higher.

Relative Strength Index and Momentum

image 491

The RSI for MTTR is 44.60 and it is following an uptrend. This indicates that bulls have finally started to push the price of MTTR higher. We may see MTTR price rising further before the RSI enters the over brought territory.

The momentum oscillator is above 0 and it indicates a bullish run.

Count: 3 Bullish, 0 Neutral, 1 Bearish

Recommendation: Overall the momentum is Bullish. The trade recommendation is a Buy for short-term traders while for long-term it is a hold.

Read: Tesla Stock Forecast 2023: Is Tesla Stock A Good Buy?

Matterport Inc. Revenue in 2022 (Quarterly)

  • Q1 2022: $28.51 M
  • Q2 2022: $28.48 M
  • Q3 2022: $37.99 M

MTTR Strock Forecast: Matterport Third Quarter 2022 Performance

After having not much growth in the 2nd quarter of 2022 compared to the Q1, Matterport delivered a record Third Quarter 2022 Financial Result. Matterport announced its Q3 financial result on November 10th, 2022 for the quarter that ended on September 30, 2022.

As per the Q3 Financial result, Matterport’s Q3 revenue was up 37% year-over-year with Q3 total revenue closing at $38.0 million. The services revenue was up 204% year-over-year to $10 Million. Annualized Recurring Revenue (ARR) exiting the third quarter was $76.0 million. Here are some highlights of MTTR Stock for the third quarter:

  • Total revenue in 3rd Quarter: $38.0 million Change in Revenue: Up 37% year-over-year.
  • Services revenue in 3rd Quarter: $10.0 million Change in Revenue: Up 204% year-over-year
  • Subscription revenue in 3rd Quarter: $19.0 million Change in Revenue: Up 21% year-over-year
  • Annualized Recurring Revenue (ARR) exiting the third quarter: $76.0 million
  • Total subscribers in 3rd Quarter: 657,000, Change: 50% compared to the third quarter of 2021
  • Non-GAAP net loss: $0.09 per share

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

MTTR Stock Forecast
image 492