WM Technology (NASDAQ:MAPS) Posts Earnings Results, Misses Expectations By $0.06 EPS

WM Technology (NASDAQ:MAPS) posted its quarterly earnings data on Thursday. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06), FiscalAI reports. The company had revenue of $43.07 million for the quarter, compared to the consensus estimate of $42.00 million. WM Technology had a net margin of 4.40% and a return on equity of 6.22%.

WM Technology Stock Performance

Shares of WM Technology stock traded down $0.01 during trading hours on Thursday, reaching $0.75. The company’s stock had a trading volume of 557,210 shares, compared to its average volume of 940,479. WM Technology has a one year low of $0.63 and a one year high of $1.37. The company’s 50 day simple moving average is $0.76 and its 200 day simple moving average is $0.95. The stock has a market cap of $118.64 million, a P/E ratio of 10.78 and a beta of 1.20.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded WM Technology from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, WM Technology currently has an average rating of “Hold” and an average price target of $2.61.

Insider Activity at WM Technology

In other WM Technology news, CEO Douglas Francis sold 103,019 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $0.68, for a total transaction of $70,052.92. Following the sale, the chief executive officer directly owned 8,467,787 shares in the company, valued at approximately $5,758,095.16. The trade was a 1.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brian Camire sold 101,209 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $0.68, for a total value of $68,822.12. Following the sale, the general counsel directly owned 1,741,653 shares of the company’s stock, valued at approximately $1,184,324.04. This represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 475,260 shares of company stock valued at $323,177 in the last quarter. Insiders own 23.64% of the company’s stock.

Hedge Funds Weigh In On WM Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAPS. Centiva Capital LP purchased a new position in WM Technology during the 3rd quarter valued at about $31,000. Virtu Financial LLC purchased a new stake in shares of WM Technology during the third quarter worth $32,000. OLD Mission Capital LLC acquired a new stake in WM Technology during the fourth quarter valued at $27,000. Bank of America Corp DE grew its stake in WM Technology by 54.9% in the third quarter. Bank of America Corp DE now owns 36,989 shares of the company’s stock valued at $43,000 after purchasing an additional 13,116 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new position in WM Technology in the second quarter valued at about $42,000. 22.02% of the stock is currently owned by hedge funds and other institutional investors.

About WM Technology

WM Technology, Inc is a software-as-a-service provider that delivers cloud-based solutions to the wealth and asset management industry. The company’s platform is designed to support financial advisors, broker-dealers and registered investment advisors with digital investment advice, portfolio management, performance reporting and compliance monitoring.

WM Technology’s product suite includes tools for streamlined client onboarding, interactive financial planning, automated portfolio rebalancing and tax-aware investment strategies.