WM Technology (NASDAQ:MAPS) Downgraded by Truist Financial

Truist Financial lowered shares of WM Technology (NASDAQ:MAPSGet Rating) from a buy rating to a hold rating in a research note published on Tuesday, Marketbeat.com reports. Truist Financial currently has $2.00 price target on the stock, down from their previous price target of $5.00.

Several other equities analysts have also recently weighed in on the company. BTIG Research cut WM Technology from a buy rating to a neutral rating in a report on Wednesday, August 10th. Piper Sandler cut WM Technology from an overweight rating to a neutral rating and reduced their price target for the stock from $8.00 to $4.00 in a report on Wednesday, August 10th. Canaccord Genuity Group reduced their price target on WM Technology from $8.00 to $6.00 and set a buy rating for the company in a report on Thursday, August 11th. Finally, Stifel Nicolaus cut WM Technology from a buy rating to a hold rating and reduced their price target for the stock from $10.00 to $3.20 in a report on Wednesday, August 10th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $3.59.

WM Technology Price Performance

Shares of NASDAQ MAPS opened at $1.41 on Tuesday. The stock has a market capitalization of $191.62 million, a price-to-earnings ratio of 3.56 and a beta of 1.08. The business has a 50-day moving average of $1.94 and a 200-day moving average of $3.45. WM Technology has a fifty-two week low of $1.11 and a fifty-two week high of $9.91.

WM Technology (NASDAQ:MAPSGet Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.09). The company had revenue of $58.29 million during the quarter, compared to the consensus estimate of $62.17 million. WM Technology had a net margin of 12.67% and a negative return on equity of 41.86%. On average, sell-side analysts expect that WM Technology will post -0.17 EPS for the current year.

Insider Transactions at WM Technology

In other news, General Counsel Brian Camire sold 12,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $2.65, for a total transaction of $32,462.50. Following the completion of the sale, the general counsel now owns 200,681 shares in the company, valued at $531,804.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, General Counsel Brian Camire sold 12,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $2.65, for a total transaction of $32,462.50. Following the completion of the sale, the general counsel now owns 200,681 shares in the company, valued at $531,804.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Justin Dean sold 17,836 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $2.65, for a total value of $47,265.40. Following the sale, the insider now owns 279,834 shares of the company’s stock, valued at approximately $741,560.10. The disclosure for this sale can be found here. Insiders sold a total of 131,791 shares of company stock worth $349,246 over the last quarter. Company insiders own 41.89% of the company’s stock.

Institutional Investors Weigh In On WM Technology

A number of institutional investors have recently made changes to their positions in the company. Wolverine Asset Management LLC raised its position in shares of WM Technology by 34.3% in the first quarter. Wolverine Asset Management LLC now owns 13,088 shares of the company’s stock valued at $102,000 after buying an additional 3,340 shares in the last quarter. Wedbush Securities Inc. acquired a new stake in shares of WM Technology in the second quarter valued at approximately $76,000. Landscape Capital Management L.L.C. acquired a new stake in shares of WM Technology in the second quarter valued at approximately $80,000. Royce & Associates LP acquired a new stake in shares of WM Technology in the first quarter valued at approximately $399,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of WM Technology in the first quarter valued at approximately $85,000. Institutional investors own 34.47% of the company’s stock.

About WM Technology

(Get Rating)

WM Technology, Inc provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States, Canada, and internationally. The company offers Weedmaps marketplace that allows cannabis users to search for and browse cannabis products from retailers and brands, and reserve products from local retailers; and information on the cannabis plant, and the industry and advocate related services for legalization.

Further Reading

Analyst Recommendations for WM Technology (NASDAQ:MAPS)

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