Why this Matterport analyst is configured during the rebranding of Facebook

Meta is the new name of the social networking platform company Facebook Inc. (NASDAQ: FB). The name change is due to the fact that the company is betting on the growth of the metaverse, and augmented and virtual reality will become more popular in the future.

The analyst calls the name to watch the winner in the Facebook news space.

Matterport Analyst: Wedbush analyst Daniel Ives has an Outperform rating Matterport Inc. (NASDAQ: MTTR) and price $ 26.

Related link: 10 augmented and virtual reality promotions to watch after Facebook meta-rebranding

Matterport Removals: Ives highlights the partnership announced between Matterport and Facebook earlier this year as a key event that could attract more investor attention. The partnership was created to create the largest data set in history of three-dimensional interiors with the help of Facebook AI Research.

“We believe this was the first step towards a much broader relationship between Facebook and Matterport, as Zuckerberg & Co. is moving along the path of the metaverse, “Ives said.

Matterport has a “large library of 3D data,” which Ives calls unsurpassed in the industry. The company is referred to as an emerging market game and is important to real estate and other sectors.

“We continue to believe that Matterport is at the beginning of a history of mass growth that will unfold in the coming years.”

Ives called the shares unreliable, based on investor talks, and said he liked that the shares were approaching 2022, and the game of the metaverse was attracting the attention of investors.

The growth can be at the expense of the company, as its model of free transition to paid will be implemented further.

According to Vedbush, the total size of the market that can be addressed is $ 240 billion, and Matterport’s market share of less than 1% allows the company to expand.

The target price of $ 26 is based on a multiple of 13x the expected revenue for 2023.

MTTR Price Action: Shares of MTTR rose 18.16% on Friday, closing at $ 22.45.

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