Benzinga | Sep 8, 2021 04:15PM EDT

Canaccord Genuity Analyst Sees 47% Upside In This Small Cap Stock

* Canaccord Genuity analyst David Hynes initiated coverage of WM Technology Inc (NASDAQ: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.