SAAS - Equity Research Looks At Undervalued E-Commerce Weed Stock: Mapping The Online Platform's Potential | Benzinga
In a detailed equity research report, Zuanic & Associates offer a neutral perspective on WM Technology (NASDAQ: MAPS), a leading player in the cannabis sector, highlighting its unique market position and prospects.
Market Position And Valuation
"We initiate coverage of WM Technology with a Neutral rating. Trading at 0.6x sales (vs. 4.5x for comparable e-commerce/SaaS stocks) the stock valuation does not properly reflect MAPS’ unique franchise as the leading online cannabis consumer marketplace," said Pablo Zuanic, Z&A’s senior analyst.
Despite this undervaluation, its dominance in key markets and a market cap of $142 million underscore its potential in the cannabis sector.
- For the calendar year 2024, WM Technology (MAPS) is trading at 0.5x sales and 4.2x EBITDA. For 2025, these figures are projected to be even lower at 0.4x sales and 2x EBITDA.
- In comparison, Vertical SaaS stocks are trading at 5x sales and 17x EBITDA, marketplace stocks at 3.3x sales ...