MTTR Stock Recent News

In today's market, Matterport (NASDAQ: MTTR ) is one of the biggest movers investors are watching, with MTTR stock surging more than 200% at today's highs. The stock has come off of its daily high as of early afternoon trading but continues to see an abnormal number of shares trade hands, with more than 55 million shares of MTTR stock traded as of 2 p.m.

Matterport shares have been under pressure for most of the year, but CoStar sees value at these levels. The real estate data provider has agreed to acquire Matterport at a massive premium in a cash and stock deal

Matterport shares surged almost 180% after it was revealed the spatial data company is being acquired by CoStar Group Inc (NASDAQ:CSGP) to bolster its digital real estate offering. The companies said on Monday that CoStar will acquire Materport in a cash and stock transaction valued at $5.50 per share, representing an enterprise value of $1.6 billion.

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.

Under-$5 stocks for new investors are a tricky proposition. On one hand, today's under-$5 stocks could be some of tomorrow's stock market giants.

There's value emerging in this beaten-up stock.