WM Technology set to open at all-time low on revenue miss

WM Technology

10/08/2022 13:05

** Software solutions provider WM Technology's shares
 MAPS.O  down ~32% at $2.36 premarket, set to open at an
all-time low 
    ** Co's Q2 revenue misses estimates but it reports surprise
profit; analysts had expected a quarterly loss  urn:newsml:reuters.com:*:nASA03KNJ
    ** MAPS expects H2 total revenue in the mid-single-digit
percentages on a year-over-year basis
    ** At least three brokerages cut rating on stock
    ** BTIG downgrades to "neutral" from "buy"; says difficult
to have confidence in co's estimates in the wake of multiple
guidance resets  urn:newsml:reuters.com:*:nRscfnl9Wa    
    ** Piper Sandler cuts to "neutral" from "overweight",
slashes PT to $4 from $8; brokerage lowers its FY revenue
estimate for MAPS by 15% to $221 mln 
    ** As of Tuesday's close, shares down ~42% YTD 

 (Reorting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))