WM Technology (NASDAQ:MAPS) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of WM Technology (NASDAQ:MAPS) from a sell rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “WM TECHNOLOGY is a technology and software infrastructure provider to the cannabis industry. WM TECHNOLOGY, formerly known as Silver Spike Acquisition Corp., is based in IRVINE, Calif. “

MAPS has been the topic of a number of other reports. Cantor Fitzgerald began coverage on shares of WM Technology in a research report on Monday, November 22nd. They set an overweight rating and a $11.00 price target on the stock. Truist Securities cut their target price on shares of WM Technology from $18.00 to $15.00 and set a buy rating on the stock in a research report on Friday, November 12th. JMP Securities reiterated a buy rating on shares of WM Technology in a research note on Friday, November 12th. Piper Sandler dropped their price objective on shares of WM Technology from $16.00 to $14.00 and set an overweight rating on the stock in a report on Friday, November 12th. Finally, Truist decreased their price objective on shares of WM Technology from $18.00 to $15.00 and set a buy rating on the stock in a research report on Friday, November 12th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, WM Technology has an average rating of Buy and a consensus price target of $16.83.

Shares of NASDAQ MAPS opened at $5.32 on Wednesday. The company’s 50 day simple moving average is $7.06 and its 200 day simple moving average is $11.74. WM Technology has a fifty-two week low of $4.98 and a fifty-two week high of $29.50.

WM Technology (NASDAQ:MAPS) last issued its earnings results on Thursday, November 11th. The company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.07). The business had revenue of $50.88 million for the quarter, compared to analysts’ expectations of $51.39 million. Research analysts predict that WM Technology will post -0.23 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Harbert Fund Advisors Inc. purchased a new position in shares of WM Technology in the second quarter valued at approximately $2,679,000. Senvest Management LLC acquired a new stake in shares of WM Technology in the second quarter valued at $28,308,000. Monashee Investment Management LLC acquired a new position in WM Technology during the 2nd quarter worth $6,251,000. Trellus Management Company LLC grew its stake in WM Technology by 160.9% during the 3rd quarter. Trellus Management Company LLC now owns 90,514 shares of the company’s stock worth $1,312,000 after purchasing an additional 55,827 shares in the last quarter. Finally, Capital CS Group LLC purchased a new stake in WM Technology during the 3rd quarter worth about $744,000. 28.34% of the stock is currently owned by hedge funds and other institutional investors.

About WM Technology

WM Holding Company, LLC provides software and technology solutions to the cannabis industry. It operates Weedmaps, an online directory of cannabis retailers and information site for cannabis producers and consumers; and provides cloud-based software as a service and data solutions to cannabis retailers and major brands.

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