WM Technology (NASDAQ:MAPS) Cut to "Hold" at Wall Street Zen

Key Points

• WM Technology's stock rating has been downgraded from a "strong-buy" to a "hold" by Wall Street Zen, reflecting potential challenges in the company's outlook.
• Despite the downgrade, Westpark Capital has maintained a "buy" rating with a price target of $2.61, indicating some confidence in the company's future performance.
• WM Technology reported a quarterly earnings miss, with an EPS of $0.01 compared to the consensus estimate of $0.04, highlighting struggles in meeting analyst expectations.

WM Technology (NASDAQ:MAPS - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "hold" rating in a research note issued on Saturday.

Separately, Westpark Capital reiterated a "buy" rating and issued a $2.61 price objective on shares of WM Technology in a research note on Friday, May 9th.

WM Technology Stock Up 3.4%

Shares of NASDAQ:MAPS opened at $0.93 on Friday. The company has a market cap of $143.90 million, a price-to-earnings ratio of 11.66 and a beta of 1.02. The firm's 50-day simple moving average is $0.97 and its 200-day simple moving average is $1.13. WM Technology has a fifty-two week low of $0.70 and a fifty-two week high of $1.65.

WM Technology (NASDAQ:MAPS - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.03). WM Technology had a net margin of 4.77% and a return on equity of 7.32%. The company had revenue of $44.85 million during the quarter, compared to analyst estimates of $45.00 million.

Insider Transactions at WM Technology

In other WM Technology news, Director Olga Gonzalez sold 62,501 shares of WM Technology stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $0.91, for a total transaction of $56,875.91. Following the completion of the transaction, the director owned 432,690 shares in the company, valued at approximately $393,747.90. The trade was a 12.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brenda Freeman sold 62,501 shares of WM Technology stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $0.91, for a total transaction of $56,875.91. Following the transaction, the director owned 432,692 shares of the company's stock, valued at approximately $393,749.72. The trade was a 12.62% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 799,267 shares of company stock valued at $825,747. 23.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On WM Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new position in WM Technology during the fourth quarter worth about $28,000. The Manufacturers Life Insurance Company acquired a new position in WM Technology during the fourth quarter worth about $35,000. Voya Investment Management LLC acquired a new position in shares of WM Technology in the fourth quarter valued at approximately $39,000. Kathmere Capital Management LLC acquired a new position in shares of WM Technology in the first quarter valued at approximately $41,000. Finally, FNY Investment Advisers LLC raised its position in shares of WM Technology by 125.6% in the first quarter. FNY Investment Advisers LLC now owns 44,900 shares of the company's stock valued at $50,000 after buying an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 22.02% of the company's stock.

WM Technology Company Profile

WM Technology, Inc provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States 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 education and learning information to help newer consumers learn about the types of products to purchase.

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