What does Matteo mean?
Italian form of Matthew, ultimately from Hebrew 'Mattityahu' ('gift of Yahweh / gift of God') via Greek Matthaios.
What does Lorenzo mean?
Italian form of Laurence, from the Roman cognomen Laurentius meaning 'man from Laurentum'. The place name Laurentum is itself usually linked to Latin 'laurus', the laurel tree, so the name carries a secondary association with laurel/the victory wreath.