MoneyLion (NYSE:ML) Releases Quarterly Earnings Results, Beats Expectations By $0.89 EPS

MoneyLion (NYSE:ML - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.89, Briefing.com reports. MoneyLion had a negative return on equity of 11.19% and a negative net margin of 10.69%. The company had revenue of $121.00 million for the quarter, compared to analyst estimates of $116.32 million. During the same quarter last year, the company earned ($1.29) EPS. MoneyLion's revenue for the quarter was up 29.1% compared to the same quarter last year.

MoneyLion Price Performance

Shares of ML stock traded up $6.30 during midday trading on Wednesday, hitting $77.83. The company had a trading volume of 214,809 shares, compared to its average volume of 169,950. The stock has a market cap of $818.77 million, a price-to-earnings ratio of -16.03 and a beta of 2.68. The company's 50 day simple moving average is $68.20 and its 200 day simple moving average is $52.91. MoneyLion has a 52-week low of $9.73 and a 52-week high of $87.00.

Insider Transactions at MoneyLion

In other news, insider Timmie Hong sold 25,157 shares of MoneyLion stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $65.08, for a total value of $1,637,217.56. Following the sale, the insider now owns 131,557 shares of the company's stock, valued at $8,561,729.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Timmie Hong sold 25,157 shares of MoneyLion stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $65.08, for a total value of $1,637,217.56. Following the sale, the insider now directly owns 131,557 shares in the company, valued at $8,561,729.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Diwakar Choubey sold 20,207 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.08, for a total value of $1,315,071.56. Following the completion of the transaction, the chief executive officer now owns 805,362 shares of the company's stock, valued at approximately $52,412,958.96. The disclosure for this sale can be found here. Insiders sold 149,111 shares of company stock worth $9,789,064 over the last 90 days. 14.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. TheStreet upgraded shares of MoneyLion from a "d" rating to a "c-" rating in a report on Thursday, March 7th. Craig Hallum increased their target price on MoneyLion from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday. Lake Street Capital lifted their price target on MoneyLion from $75.00 to $109.00 and gave the stock a "buy" rating in a report on Monday, April 15th. Finally, Needham & Company LLC lifted their price target on shares of MoneyLion from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday. Five analysts have rated the stock with a buy rating, According to MarketBeat, MoneyLion currently has an average rating of "Buy" and a consensus target price of $78.60.

About MoneyLion

MoneyLion Inc, a financial technology company, provides personalized products and financial content for American consumers. The company's platform offers access to banking, borrowing, and investing solutions for customers. Its principal products include RoarMoney, an insured digital demand deposit account; Instacash, a cash advance product that gives customers early access to their recurring income deposits; Credit Builder Plus membership program; MoneyLion Investing, an online investment account that offers access to separately managed accounts invested based on model exchange-traded fund portfolios; Roundups, which provides features designed to encourage customers to establish good saving and investing habits; and MoneyLion Crypto, an online cryptocurrency account.