Matterport Price Target Significantly Reduced by Berenberg Bank
<p>Analysts at Berenberg Bank provided their views on <a href='https://financialmodelingprep.com/financial-summary/MTTR'>Matterport, Inc. (NASDAQ:MTTR)</a>, highlighting lower near- and mid-term growth prospects. </p>
<p>The company’s shares have been highly volatile since going public in July 2021. As a result of over-stretched initial growth expectations, the shares have now stabilized below $10. </p>
<p>The analysts remain buyers of the stock, on the back of attractive core SAM, and see over 60% upside from current levels. However, they significantly reduce their price target to $12 from $25 due to materially lower near- and mid-term growth prospects and continued heavy investments in sales and marketing. </p>
<p>The analysts believe lower growth prospects are priced in and consider 2023 Street estimates to be too high. Throughout the year, the analysts believe modest upside should come from market share expansion in real estate and high growth in AEC.</p>

NASDAQ:MTTR