Rosenblatt Securities Issues Pessimistic Forecast for Securitize (NYSE:SECZ) Stock Price

Key Points

• Rosenblatt cut its Securitize price target from $13 to $12 but maintained a Buy rating; the new target implies 74.11% upside from the current share price.
• Analyst views are mixed: MarketBeat’s consensus is Moderate Buy with an average target of $14.20, while ratings range from Buy to Sell.
• Third-quarter revenue of $18.6 million beat estimates, but the $0.41-per-share loss was wider than expected. Securitize also announced a $50 million share repurchase program and agreed to acquire River One.

Securitize (NYSE:SECZ - Get Free Report) had its price target cut by equities research analysts at Rosenblatt Securities from $13.00 to $12.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Rosenblatt Securities's price target suggests a potential upside of 74.11% from the stock's current price.

SECZ has been the subject of a number of other research reports. Weiss Ratings began coverage on shares of Securitize in a research note on Friday, September 25th. They issued a "sell (d-)" rating for the company. Citizens Jmp increased their price target on Securitize from $15.00 to $17.00 and gave the company a "market outperform" rating in a research note on Friday, October 9th. Cantor Fitzgerald assumed coverage on Securitize in a research report on Monday, September 21st. They set an "overweight" rating and a $21.20 price target on the stock. Wall Street Zen downgraded Securitize to a "strong sell" rating in a research report on Saturday, September 5th. Finally, Zacks Research upgraded Securitize to a "hold" rating in a research note on Tuesday, September 22nd. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.20.

Securitize Price Performance

SECZ opened at $6.89 on Tuesday. The firm has a 50 day simple moving average of $10.04. Securitize has a 12-month low of $5.14 and a 12-month high of $17.01. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -2.78 and a beta of 0.61.

Securitize (NYSE:SECZ - Get Free Report) last announced its quarterly earnings data on Monday, November 9th. The company reported ($0.41) EPS for the quarter. As a group, equities research analysts expect that Securitize will post -0.81 EPS for the current year.

Institutional Investors Weigh In On Securitize

Large investors have recently bought and sold shares of the company. Brighton Jones LLC bought a new position in Securitize in the third quarter valued at approximately $146,000. Harbour Investments Inc. bought a new stake in shares of Securitize in the 3rd quarter valued at about $201,000. Western Wealth Management LLC acquired a new position in Securitize in the third quarter valued at $210,000. Money Concepts Capital Corp acquired a new position in Securitize in the third quarter valued at approximately $245,000. Finally, J. Derek Lewis & Associates Inc. bought a new position in shares of Securitize during the 3rd quarter worth about $439,000.

More Securitize News

Here are the key news stories impacting Securitize this week:

• Positive Sentiment: Third-quarter revenue was $18.6 million, above the FactSet estimate of $17.6 million. Revenue report
• Positive Sentiment: Securitize announced a $50 million share repurchase program, which may signal confidence in the company and provide a source of share demand. Third-quarter results announcement
• Positive Sentiment: The company agreed to acquire River One, adding institutional asset-backed financing capabilities to its tokenization platform and targeting a market it estimates at $6 trillion. The deal could broaden Securitize’s business, though financial terms were not disclosed. River One acquisition announcement
• Negative Sentiment: Securitize reported a $0.41 per-share loss, wider than the FactSet estimate of a $0.22 loss. The company also reported a $66.3 million quarterly net loss, making the earnings shortfall a potential pressure on the shares. Earnings report

About Securitize

Securitize provides technology and regulated financial services for issuing and managing digital securities on blockchain networks. Its platform supports the tokenization of assets such as private fund interests and other securities, along with investor onboarding, compliance, recordkeeping and related lifecycle services.

The company also offers infrastructure for secondary trading of digital securities through regulated entities, including broker-dealer and alternative trading system services.

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