Matterport (MTTR.US) is a technology company dedicated to creating so-called digital equivalents, i.e. transferring real objects into virtual space. Last year, the company became one of the beneficiaries of the Metaverse trend and was mentioned among the key companies capable of creating virtual worlds. The company's technology makes it possible, among others, to:
- Uploading 3D photos to a special cloud, where their digital equivalents are created;
- Transferring one's own space into a virtual world;
- Creating digital equivalents of commercial buildings such as stadiums or hotels;
- Virtual reproduction of aircraft designs and other technically advanced objects;
- Dedicated solutions for designers, constructors, engineers, artists and programmers.
The solutions proposed by Matterport are of interest to, among others, design offices, insurance companies (virtual damage models) or real estate salesmen who, thanks to the digital counterparts, can organise virtual tours of the offered properties serving more clients in a shorter time. According to the company's website, in 2021 Matterport doubled the number of subscribers and 54% increased the number of managed digital spaces. Subscription revenue for the company's offerings increased by 47%, and total revenue for the full year 2021 increased by almost 30% compared to 2020. A new service was introduced in the form of Matterport Axis for Android 3D on smartphones.
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Open account Try demo Download mobile app Download mobile appThe company has also entered into partnerships with technology giants like Amazon (AMZN.US), for which it provides 'digital equivalents' as part of Amazon Web Services, or Adobe (ADBE.US) where it helps optimize the Revit platform. At the same time, the company has a chance in the future to become a beneficiary of the Web 3.0 technologies, provided that the Metaverse trend continues to expand dynamically.
The company's share price has fallen nearly 70% since December 2021, and the NASDAQ index has been facing downward pressure over the past few months. However at the moment price attempts to rebound. In February, the price consensus for Matterport stock was downgraded by several institutions including investment banks Credit Suisse and Deutsche Bank.
At the same time the company has positive analyst ratings according to Marketbeat.com:
Current ratings include 6 'Buy' ratings and no 'Hold' or 'Sell' ratings
Matterport (MTTR.US), H4 interval. Looking at the company's stock price since the beginning of the year, we can see that it has been moving in a downward trend. Recent low at $5.40 was reached on the day of the Russian attack on Ukraine. Since then, the price rose 70%. The nearest resistance is located around $9.58 and coincides with the 23.6% Fibonacci retracement and previous price reactions. In the case of acceleration of the upward trend, the next resistance can be found at $11.66 and $15.84. Earlier buyers will need to break above psychological resistance at $10.00. Matterport's shares remain very sensitive to external factors and due to the specifics of the company's activity are characterised by increased volatility. Source: xStation5
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