- Canaccord Genuity analyst David Hynes initiated coverage of WM Technology Inc MAPS with a Buy rating and $21 price target, implying a 46.9% upside.
- WM is "solving for the key pain points" that cannabis industry participants face by combining a two-sided marketplace with an entire "business in a box" technology suite, Hynes noted.
- Hynes believes WM should approach $200 million in revenue this year, which on a normalized basis represents 62% growth.
- He says, "this is a profitable growth story that has legs."
- Price Action: MAPS shares closed lower by 0.35% at $14.25 on Wednesday.
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