WM Technology plunges to lowest in a year on Q3 sales miss

WM Technology

12/11/2021 11:38

** Software solutions provider WM Technology  MAPS.O 
plunges 13% in premarket trading to $10.15 - its lowest in a
year - a day after posting Q3 results 
    ** Co misses revenue estimates, posting $50.9 mln versus
est. $51.7 mln, per Refinitiv data
    ** "Slowing growth and talk of ramping investment are never
a good combo for a growth stock and MAPS gave us both," says
BTIG
    ** BTIG adds co's uncertain near-term outlook will be hard
for the market to digest as consensus numbers likely move
"materially lower"
    ** "Fewer new license issuance and stronger-than-expected
demand for non-licensed operators will weigh on demand for the
next one to two quarters," says Piper Sandler, cutting PT to $14
by $2
    ** Stock down 9% YTD

 (Reporting by Anisha Sircar in Bengaluru)
 ((Anisha.Sircar@thomsonreuters.com;))