Cantor Fitzgerald Lowers Marti Technologies (NYSEAMERICAN:MRT) Price Target to $2.20

Key Points

• Cantor Fitzgerald lowered Marti Technologies’ price target from $2.40 to $2.20 while maintaining a “neutral” rating, implying roughly 2.33% upside from the previous close.
• Analyst sentiment remains broadly positive: three analysts rate the stock “Buy” and one rates it “Hold,” producing a “Moderate Buy” consensus and an average price target of $3.92.
• Marti reported a quarterly loss of $0.15 per share on $19.98 million in revenue. The stock opened at $2.15, with a 12-month range of $1.12 to $2.75.

Marti Technologies (NYSEAMERICAN:MRT - Get Free Report) had its target price lowered by equities researchers at Cantor Fitzgerald from $2.40 to $2.20 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Cantor Fitzgerald's price target points to a potential upside of 2.33% from the company's previous close.

A number of other research firms have also weighed in on MRT. Alliance Global Partners initiated coverage on shares of Marti Technologies in a research note on Thursday, July 2nd. They set a "buy" rating and a $4.00 price objective for the company. Roth Capital set a $3.50 target price on shares of Marti Technologies in a research note on Thursday. Citigroup reiterated a "buy" rating on shares of Marti Technologies in a report on Thursday. Finally, Benchmark raised their price target on shares of Marti Technologies from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $3.92.

Marti Technologies Price Performance

NYSEAMERICAN MRT opened at $2.15 on Monday. Marti Technologies has a 12 month low of $1.12 and a 12 month high of $2.75. The stock's fifty day moving average price is $1.70 and its 200-day moving average price is $1.94.

Marti Technologies (NYSEAMERICAN:MRT - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.15) earnings per share (EPS) for the quarter. The firm had revenue of $19.98 million during the quarter. On average, equities research analysts forecast that Marti Technologies will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On Marti Technologies

A hedge fund recently raised its position in Marti Technologies stock. Arbiter Partners Capital Management LLC grew its stake in shares of Marti Technologies, Inc. (NYSEAMERICAN:MRT - Free Report) by 24.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 286,254 shares of the company's stock after acquiring an additional 56,319 shares during the quarter. Arbiter Partners Capital Management LLC owned about 0.33% of Marti Technologies worth $573,000 as of its most recent SEC filing. Institutional investors own 20.71% of the company's stock.

Marti Technologies Company Profile

Marti Technologies Inc is a mobility app, offering multiple transportation services to its riders. Marti operates a ride-hailing service that matches riders with car, motorcycle, and taxi drivers, and operates a large fleet of rental e-mopeds, e-bikes, and e-scooters. All of Marti's offerings are serviced by proprietary software systems and IoT infrastructure.

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