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Matterport, Inc. (MTTR) Flat As Market Sinks: What You Should Know

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Matterport, Inc. (MTTR - Free Report) closed the most recent trading day at $4.79, making no change from the previous trading session. This change was narrower than the S&P 500's 0.08% loss on the day. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 0.06%.

Heading into today, shares of the company had gained 24.42% over the past month, outpacing the Business Services sector's gain of 18.72% and the S&P 500's gain of 8.78% in that time.

Matterport, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 10, 2022. On that day, Matterport, Inc. is projected to report earnings of -$0.14 per share, which would represent year-over-year growth of 77.42%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $29.44 million, down 0.22% from the year-ago period.

MTTR's full-year Zacks Consensus Estimates are calling for earnings of -$0.50 per share and revenue of $125.93 million. These results would represent year-over-year changes of -117.39% and +13.28%, respectively.

Investors might also notice recent changes to analyst estimates for Matterport, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 26.64% higher. Matterport, Inc. is currently a Zacks Rank #2 (Buy).

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 144, which puts it in the bottom 43% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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