Credit Suisse analyst John Walsh raised the price target on Matterport Inc to $34 from $25, implying a 25 percent upside, and kept an Outperform rating on the shares.
The analyst is removing his previous split multiple valuations for Matterport as he expects 86 percent of revenue to be Annual Recurring Revenue (ARR) in 2025.
Further, Walsh expects Matterport to benefit from camera R&D investments at Apple Inc. and Android device manufacturers, which will reduce the company’s need for in-house hardware.
By Anusuya Lahiri
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