Matterport: Buy These 3D Digital Assets On Weakness
- Matterport reported minimal Q2'21 growth due to a shift to subscription models.
- The spatial data company continues to capture massive growth in the subscriber base.
- The stock is just too expensive at 20x '22 EV/S targets, but Matterport would be a solid purchase on dips.
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Over the last 5 months, Matterport (NASDAQ:MTTR) has traded mostly sideways to down while the business is booming. The company is transitioning the business model to a subscription service hiding the actual growth rates from unknowing investors. My investment thesis remains on the border of being bullish, telling investors to snap up the stock closer to $10 similar to the lows from May while avoiding the stock here at $14.
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Update - Nov. 15
Amazing how the market can wildly chase a stock to new heights. The $5.6 billion market cap is just dangerous to shareholders now.
-Matterport (NASDAQ:MTTR) shares surged as much as 20%, Monday, as the 3D spatial technology company recovered its post-earnings losses and reached levels not seen since February.
-Analyst Dan Ives, of Wedbush, recently said Matterport (MTTR) is "in the early innings of a massive growth story playing out over the coming years," and is in a position to grow along with Facebook's (NASDAQ:FB) Metaverse strategy.