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Maxim Group Thinks BM Technologies’ Stock is Going to Recover

Maxim Group analyst Michael Diana reiterated a Buy rating on BM Technologies (BMTXResearch Report) yesterday and set a price target of $25.00. The company’s shares closed last Monday at $8.64, close to its 52-week low of $7.68.

According to TipRanks.com, Diana is a 5-star analyst with an average return of 15.4% and a 53.6% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Generation Income Properties, and Westamerica Bancorporation.

Currently, the analyst consensus on BM Technologies is a Moderate Buy with an average price target of $25.00.

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Based on BM Technologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $21.97 million and net profit of $8.79 million. In comparison, last year the company earned revenue of $18.34 million and had a net profit of $250K.

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Megalith Financial Acquisition Corp. is a blank check company, which engages in effecting a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization with one or more businesses. It also intends to focus its search on the financial technology and financial services sectors. The company was founded on November 13, 2017 and is headquartered in New York, NY.

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