Credit Suisse Bumps Up Matterport Price Target By 36%, Thanks To Apple

November 23, 2021 10:02 AM | 1 min read |

Credit Suisse analyst John Walsh raised the price target on Matterport Inc MTTR to $34 from $25, implying 25% upside, and kept an Outperform rating on the shares.
The analyst is removing his previous split multiple valuations for Matterport as he expects 86% of revenue to be ARR in 2025.
Further, Walsh expects Matterport to benefit from camera R&D investments at Apple Inc AAPL and Android device manufacturers, which will reduce the company's need for in-house hardware.
Price Action: MTTR shares traded higher by 4.26% at $27.16 on the last check Tuesday.