People can live, work, and play in the “metaverse,” which is made up of digital online spaces. It’s a virtual place that everyone can share, thanks to the merging of physical and virtual reality. And, for tech-focused investors, the “metaverse” is opening up a slew of new possibilities.
In recent years, the technology that powers virtual reality (VR) experiences has vastly advanced. Virtual reality headsets are no longer limited to home use by dedicated gamers. Virtual walkthroughs of structures and items still in the design phase, as well as collaborations with colleagues in a virtual conference room, are examples of real-world applications powered by this technology.
By changing its name to Meta Platforms, Facebook (FB) has made a significant impression on this new “metaverse,” but that’s not the only opportunity to profit from this trend as an investment.
Let’s look at a few opportunities that the experts tell us to jump right on board with, as the metaverse has vast growth potential…
Matterport Inc (MTTR)
Matterport (MTTR) is situated in Sunnyvale, California. MTTR is a firm that digitizes and indexes the world’s space data. Spatial data analytics is becoming increasingly significant in business. MTTR began operations in 2011 and went public in July through a special purpose acquisition company (SPAC). Individuals may use its 3D data platform to transform any area into a precise and immersive digital twin, or “digital replica of a real-world place or thing.” Digital twins are commonly used in the construction and real estate industries. Matterport, for example, allows real estate companies to create digital twins of their structures. Prospective buyers or tenants may then take a virtual tour of the property from the convenience of their own homes.
MTTR’s third-quarter results were announced on November 3rd by management. Revenue grew 10% year over year to $27.7 million. The non-GAAP (Generally Accepted Accounting Principles) net loss was $14 million, or 6 cents per diluted share, compared to a non-GAAP net gain of $1.5 million, or 1 cent per diluted share, the year before. Cash and equivalents were $149 million at the end of the quarter, and analysts’ EPS projections were beaten by 20%. For its current quarter, MTTR shows us $25 million in sales. MTTR has a median 12-month price target of 28.00, with a high of 38.00 and a low of 25.00 among analysts who provide price forecasts. The median estimate is down 12.34% from the previous price, and the consensus is to buy shares in MTTR.
Immersion Corp (IMMR)
Immersion Corp.(IMMR) is a company that develops, designs, and licenses proprietary haptic inventions and software. The company provides touch sense platforms and design services. Mobile devices, wearables, consumer, mobile entertainment and other content, console gaming, automotive, medical, and commercial are among the target application areas. IMMR was established in 1993 and is based in San Jose, California.
On November 3rd, IMMR revealed its third-quarter results. Total revenue fell 5% year over year to $7.2 million, from $7.6 million the previous quarter. Non-GAAP net income, on the other hand, grew 14% year over year to $4.7 million, or 15 cents per diluted share, up from $4.1 million the previous quarter. Cash and short-term marketable securities totaled $119 million at the end of the quarter. Because more than 90% of sales are recurring, the firm has a steady cash flow. It is also debt-free. IMMR has a consensus price target of 15.00 among analysts that provide 12-month price forecasts, with both a high of 15.00 and a low of 15.00. The median estimate is up 143.51% over its previous price. IMMR’s buy rating is solid.
Unity Software (U)
Unity Software (U) is a San Francisco-based video game software development business. “Over the Edge” Entertainment was created in Denmark in 2004 and officially changed its name in 2007. U‘s technology is used by almost every major player in the worldwide video game industry. In fact, Unity’s platform has been used to create 71% of the top 1,000 mobile games. If you want to gamble on the gamification of the metaverse, U stock is an excellent place to start.
On November 9th, U‘s third-quarter results were revealed. Revenue grew by 43% year over year to $286 million. In the previous quarter, the non-GAAP loss increased to $12.1 million, or 6 cents per diluted share, from $8.4 million, or 9 cents per diluted share. The company’s free cash flow was $34 million. Cash and equivalents were $766 million at the end of the quarter. It shouldn’t be forgotten that U crushed analysts’ expectations in both EPS/Revenue for the previous four quarters straight. Until they report again next year, U’s current quarter shows us $294.7 million in sales. U has a consensus 12-month price target of 185.00, with a high of 194.00 and a low of 130.00 from analysts that provide 12-month price forecasts. The median reflects an increase of 8.43% over their most recent price. Experts recommend buying U.
