Brokerages predict that WM Technology, Inc. (NASDAQ:MAPS – Get Rating) will announce $62.17 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for WM Technology’s earnings, with the highest sales estimate coming in at $63.00 million and the lowest estimate coming in at $61.50 million. WM Technology reported sales of $46.93 million in the same quarter last year, which indicates a positive year-over-year growth rate of 32.5%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that WM Technology will report full year sales of $259.25 million for the current fiscal year, with estimates ranging from $257.00 million to $260.60 million. For the next fiscal year, analysts expect that the company will post sales of $338.56 million, with estimates ranging from $316.00 million to $350.89 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover WM Technology.
A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of WM Technology from a “sell” rating to a “hold” rating in a report on Wednesday. Piper Sandler dropped their price objective on shares of WM Technology from $9.00 to $8.00 in a report on Thursday, May 5th. Cantor Fitzgerald increased their price objective on shares of WM Technology from $6.25 to $7.65 and gave the stock an “overweight” rating in a report on Thursday, February 24th. Finally, Canaccord Genuity Group dropped their price objective on shares of WM Technology from $21.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, February 24th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $14.64.
Shares of NASDAQ:MAPS opened at $5.82 on Thursday. The stock has a market capitalization of $790.94 million, a price-to-earnings ratio of 30.63 and a beta of 0.26. WM Technology has a 1-year low of $4.22 and a 1-year high of $22.24. The company’s fifty day moving average is $6.25 and its two-hundred day moving average is $6.08.
In other WM Technology news, General Counsel Brian Camire sold 7,324 shares of the company’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $5.47, for a total transaction of $40,062.28. Following the completion of the sale, the general counsel now directly owns 212,931 shares of the company’s stock, valued at $1,164,732.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Justin Dean sold 10,253 shares of the company’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $5.47, for a total transaction of $56,083.91. Following the sale, the insider now directly owns 297,670 shares of the company’s stock, valued at $1,628,254.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,652 shares of company stock valued at $490,396.
A number of hedge funds have recently bought and sold shares of the business. Falcon Edge Capital LP lifted its position in shares of WM Technology by 15.9% in the third quarter. Falcon Edge Capital LP now owns 2,863,243 shares of the company’s stock worth $41,517,000 after purchasing an additional 392,041 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in shares of WM Technology in the fourth quarter worth approximately $1,636,000. Rockefeller Capital Management L.P. lifted its position in shares of WM Technology by 63.6% in the third quarter. Rockefeller Capital Management L.P. now owns 54,000 shares of the company’s stock worth $783,000 after purchasing an additional 21,000 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of WM Technology in the fourth quarter worth approximately $46,000. Finally, Wolverine Asset Management LLC purchased a new stake in shares of WM Technology in the third quarter worth approximately $85,000. 24.99% of the stock is owned by institutional investors.
WM Technology Company Profile (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.
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