Matterport Inc (NASDAQ:MTTR) is a spatial data company whose technology will likely be a cornerstone of the emerging metaverse. While the company’s easy-to-use camera technology can easily create a “digital twin” of any real-life space, investors haven’t been enthralled with its performance of late.
Despite reporting solid fourth-quarter results and record full-year results in February, Matterport Inc’s first-quarter outlook was, for retail investors, underwhelming. They responded by kicking Matterport stock off a cliff, causing it to fall by approximately 25%.
Wall Street analysts think Matterport stock is sitting in bargain territory, giving it an average 12-month price target of $15.33 and a high estimate of $25.00. This points to potential gains of 115% and 258%, respectively.
Why the bullishness for Matterport Inc?
The post Unjust Sell-Off of Matterport Stock Points to Potential Gain of 255+% originally appeared at Profit Confidential.