WM Technology's (MAPS) "Buy" Rating Reiterated at Westpark Capital

Key Points

• Westpark Capital has reaffirmed a "buy" rating on WM Technology (NASDAQ: MAPS), setting a target price of $2.61, indicating a potential upside of 179.95%.
• WM Technology's stock is currently trading at $0.93, with a recent 3.4% increase, following earnings results that fell short of analyst expectations.
• Insider trading activity has seen significant sales, with directors selling a combined 156,841 shares recently, indicating a notable reduction in their ownership in the company.

WM Technology (NASDAQ:MAPS - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Westpark Capital in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $2.61 target price on the stock. Westpark Capital's price target would indicate a potential upside of 179.95% from the company's current price.

Separately, Wall Street Zen lowered shares of WM Technology from a "strong-buy" rating to a "hold" rating in a research note on Saturday.

WM Technology Stock Up 3.4%

WM Technology stock opened at $0.93 on Monday. WM Technology has a 12-month low of $0.70 and a 12-month high of $1.65. The firm's fifty day moving average is $0.97 and its 200 day moving average is $1.13. The company has a market capitalization of $143.90 million, a PE ratio of 11.66 and a beta of 1.02.

WM Technology (NASDAQ:MAPS - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). WM Technology had a net margin of 4.77% and a return on equity of 7.20%. The company had revenue of $44.85 million for the quarter, compared to analyst estimates of $45.00 million.

Insider Activity

In related news, Director Olga Gonzalez sold 62,501 shares of WM Technology stock in a transaction that occurred on 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 432,690 shares of the company's stock, valued at $393,747.90. The trade was a 12.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Gordon sold 94,340 shares of WM Technology stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $0.91, for a total value of $85,849.40. Following the transaction, the director directly owned 729,918 shares in the company, valued at approximately $664,225.38. The trade was a 11.45% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 799,267 shares of company stock worth $825,747. Company insiders own 23.64% of the company's stock.

Institutional Trading of WM Technology

Several institutional investors and hedge funds have recently made changes to their positions in MAPS. Segall Bryant & Hamill LLC bought a new position in WM Technology during the first quarter valued at about $3,056,000. Renaissance Technologies LLC grew its position in WM Technology by 101.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,561,700 shares of the company's stock valued at $3,535,000 after buying an additional 1,288,497 shares during the period. Scoggin Management LP bought a new position in WM Technology during the first quarter valued at about $1,130,000. Two Sigma Investments LP grew its position in WM Technology by 436.1% during the fourth quarter. Two Sigma Investments LP now owns 615,959 shares of the company's stock valued at $850,000 after buying an additional 501,058 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in WM Technology by 144.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 655,470 shares of the company's stock valued at $905,000 after buying an additional 387,014 shares during the period. Hedge funds and other institutional investors own 22.02% of the company's stock.

About WM Technology

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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