Securitize (NYSE:SECZ) Given New $13.00 Price Target at Needham & Company LLC

Key Points

• Needham raised its price target on Securitize from $11 to $13 and maintained a Buy rating, implying 88.62% upside from the stock’s current price.
• Analyst views are mixed: six rate the stock Buy, one Hold and one Sell. The consensus rating is Moderate Buy, with an average target of $14.53.
• Third-quarter revenue of $18.6 million topped estimates, but Securitize reported a $0.41-per-share loss, wider than expected.

Securitize (NYSE:SECZ - Get Free Report) had its price target hoisted by investment analysts at Needham & Company LLC from $11.00 to $13.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's price objective points to a potential upside of 88.62% from the company's current price.

Other equities analysts have also recently issued reports about the stock. Rosenblatt Securities dropped their price objective on shares of Securitize from $13.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday. Wall Street Zen cut shares of Securitize to a "strong sell" rating in a research note on Saturday, September 5th. Cantor Fitzgerald initiated coverage on shares of Securitize in a research note on Monday, September 21st. They issued an "overweight" rating and a $21.20 target price for the company. Weiss Ratings started coverage on shares of Securitize in a report on Friday, September 25th. They issued a "sell (d-)" rating on the stock. Finally, Citigroup raised shares of Securitize from a "neutral" rating to a "buy" rating and set a $14.00 target price on the stock in a report on Tuesday. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $14.53.

Securitize Price Performance

Securitize stock opened at $6.89 on Tuesday. Securitize has a 12 month low of $5.14 and a 12 month high of $17.01. The business's 50 day moving average is $10.04. The stock has a market capitalization of $1.13 billion, a PE ratio of -2.78 and a beta of 0.61.

Securitize (NYSE:SECZ - Get Free Report) last issued its quarterly earnings results on Monday, November 9th. The company reported ($0.41) earnings per share for the quarter. Sell-side analysts expect that Securitize will post -0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Western Wealth Management LLC acquired a new position in Securitize during the third quarter valued at approximately $210,000. Harbour Investments Inc. purchased a new stake in Securitize during the third quarter worth approximately $201,000. Money Concepts Capital Corp acquired a new stake in shares of Securitize in the third quarter worth $245,000. Mitsubishi UFJ Financial Group Inc. acquired a new stake in shares of Securitize in the third quarter worth $9,492,000. Finally, Brighton Jones LLC acquired a new stake in shares of Securitize in the third quarter worth $146,000.

Securitize News Summary

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

Securitize Company Profile

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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