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

  • 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.
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