Securitize (NYSE:SECZ) Stock Moved Up to Buy by Citigroup

Key Points

• Citigroup upgraded Securitize to Buy from Neutral and set a $14 price target, implying roughly 103% upside from the prior close. Analysts overall rate the stock a Moderate Buy, with an average target of $14.20.
• Third-quarter revenue of $18.6 million topped estimates, but the company’s $0.41-per-share loss was wider than expected.
• Securitize announced a $50 million share repurchase program and agreed to acquire River One to expand into institutional asset-backed financing.

Securitize (NYSE:SECZ - Get Free Report) was upgraded by stock analysts at Citigroup from a "neutral" rating to a "buy" rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has a $14.00 price objective on the stock. Citigroup's price objective would suggest a potential upside of 103.13% from the stock's previous close.

Several other brokerages have also recently issued reports on SECZ. Needham & Company LLC initiated coverage on shares of Securitize in a research report on Tuesday, September 8th. They issued a "buy" rating and a $11.00 price target for the company. Cantor Fitzgerald began coverage on Securitize in a research note on Monday, September 21st. They issued an "overweight" rating and a $21.20 price target for the company. Rosenblatt Securities raised their price objective on Securitize from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Monday, September 21st. Weiss Ratings began coverage on shares of Securitize in a research report on Friday, September 25th. They issued a "sell (d-)" rating on the stock. Finally, Benchmark cut their target price on Securitize from $16.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, August 17th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Securitize has a consensus rating of "Moderate Buy" and an average price target of $14.20.

Securitize Trading Down 1.0%

Shares of SECZ stock opened at $6.89 on Tuesday. The company has a market cap of $1.13 billion, a P/E ratio of -2.78 and a beta of 0.61. Securitize has a twelve month low of $5.14 and a twelve month high of $17.01. The stock's fifty day simple moving average is $10.04.

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

Institutional Investors Weigh In On Securitize

A number of institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new stake in shares of Securitize during the 3rd quarter valued at $146,000. Harbour Investments Inc. purchased a new position in Securitize in the 3rd quarter valued at approximately $201,000. Western Wealth Management LLC bought a new stake in shares of Securitize during the 3rd quarter valued at $210,000. Money Concepts Capital Corp bought a new stake in shares of Securitize during the third quarter valued at about $245,000. Finally, J. Derek Lewis & Associates Inc. purchased a new stake in Securitize in the 3rd quarter worth approximately $439,000.

Key Headlines Impacting Securitize

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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