Why Matterport Stock Is Down After Earnings

Matterport, Inc. MTTR shares are trading lower Wednesday after the company reported worse-than-expected fourth-quarter sales results and issued guidance.

The Details:

Matterport reported its fourth-quarter financial results after the bell Tuesday with quarterly sales of $39.55 million which missed the analyst consensus estimate of $40.22 million by 1.69% and represented a 3.88% decrease over sales of $41.14 million year-over-year.

Matterport also reported quarterly losses of 4 cents per share which met the analyst consensus estimate.

Piper Sandler analyst Brent Bracelin reiterated Matterport with a Neutral rating and maintained a $3 price target on the stock Wednesday. 

Matterport expects first-quarter adjusted losses of between 4 cents and 2 cents per share, versus the estimate of losses of 3 cents per share and first-quarter revenue of between $39 million and $41 million, versus the $41.2 million estimate.

The company sees full year 2024 adjusted losses of between 11 cents and 7 cents per share, versus the estimate of a loss of 10 cents per share, and full year revenue of between $173 million and $183 million, versus the $177.692 million estimate.

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How To Buy MTTR Stock:

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Matterport's case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

MTTR Price Action: According to Benzinga Pro, Matterport shares are down 15.9% at $2.13 at the time of publication.

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