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A huge buyout is taking place with Matterport today.
SUNNYVALE, Calif., April 19, 2024 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world, today announced that it will release its first quarter 2024 financial results on Monday, May 6, 2024, after market close. Matterport management will host a conference call that day at 1:30 p.m. Pacific time (4:30 p.m. Eastern time) to discuss the financial results. The dial-in number will be (412) 902-4209, conference ID: 10188117.
This company has been using artificial intelligence for over a decade and has the potential for massive returns.
Matterport, Inc. (MTTR) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
Upgraded rating on Matterport from hold to buy due to promising growth outlook and positive developments in the real estate market. Organic growth drivers are healthy, indicating strong demand environment. NRR is expected to sustain or increase as the company focuses on smaller customers and benefits from strategic partnerships and new AI features.
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Matterport fell slightly short of revenue expectations for its fourth quarter. The spatial data platform company also issued slightly weaker-than-expected first-quarter revenue guidance.
Q4 2023 revenue declined 3.9% year over year, missing the 2.2% drop Wall Street had expected. The quarter's adjusted loss per share was $0.04, which was in line with the analyst consensus estimate.
Matterport, Inc. (MTTR) Q4 2023 Earnings Call Transcript