Matterport price target lowered to $8 from $12 at Loop Capital

Loop Capital lowered the firm’s price target on Matterport to $8 from $12 but keeps a Buy rating on the shares. The company’s Q4 results were "solid" amid a challenging environment highlighted by slower growth rate in its residential real estate business, the analyst tells investors in a research note. The company also continued to benefit from the release of its flagship Pro3 camera last September as the supply-chain issues continue to ease, the firm added. Loop Capital notes however that it is updating its model with more conservative assumptions around discount rate and free cash flow margin.