MoneyLion (NYSE:ML) Coverage Initiated at Needham & Company LLC

Needham & Company LLC started coverage on shares of MoneyLion (NYSE:ML - Free Report) in a report issued on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $90.00 price objective on the stock.

A number of other brokerages have also recently issued reports on ML. TheStreet raised MoneyLion from a d rating to a c- rating in a research report on Thursday, March 7th. Lake Street Capital initiated coverage on shares of MoneyLion in a report on Tuesday, December 19th. They set a buy rating and a $75.00 price objective for the company. Cantor Fitzgerald raised their target price on shares of MoneyLion from $30.00 to $58.00 and gave the company an overweight rating in a research note on Wednesday, December 13th. Finally, Craig Hallum boosted their target price on shares of MoneyLion from $30.00 to $55.00 and gave the stock a buy rating in a research report on Tuesday, December 12th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, MoneyLion currently has an average rating of Buy and a consensus target price of $59.80.

MoneyLion Stock Up 5.1 %

Shares of ML traded up $3.45 during midday trading on Wednesday, reaching $70.55. 192,765 shares of the stock were exchanged, compared to its average volume of 174,215. The company has a market cap of $742.19 million, a price-to-earnings ratio of -14.73 and a beta of 2.71. MoneyLion has a 12-month low of $7.50 and a 12-month high of $79.26. The firm has a 50 day simple moving average of $56.78 and a 200-day simple moving average of $44.07.

MoneyLion (NYSE:ML - Get Free Report) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.20. The firm had revenue of $112.96 million for the quarter, compared to analyst estimates of $113.50 million. MoneyLion had a negative net margin of 10.69% and a negative return on equity of 11.19%. During the same quarter last year, the firm earned ($3.00) earnings per share. Research analysts expect that MoneyLion will post -0.06 earnings per share for the current fiscal year.

Insider Transactions at MoneyLion

In other MoneyLion news, Director Jeff Gary sold 945 shares of the firm's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.10, for a total value of $57,739.50. Following the sale, the director now directly owns 7,731 shares in the company, valued at approximately $472,364.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other MoneyLion news, Director Jeff Gary sold 945 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.10, for a total value of $57,739.50. Following the completion of the sale, the director now owns 7,731 shares in the company, valued at approximately $472,364.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Diwakar Choubey sold 9,338 shares of MoneyLion stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $72.87, for a total value of $680,460.06. Following the sale, the chief executive officer now directly owns 796,024 shares in the company, valued at approximately $58,006,268.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 149,111 shares of company stock worth $9,789,064. Insiders own 14.10% of the company's stock.

Institutional Investors Weigh In On MoneyLion

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC bought a new stake in shares of MoneyLion in the 4th quarter valued at approximately $35,000. Orion Capital Management LLC acquired a new stake in MoneyLion in the 3rd quarter valued at $50,000. Hsbc Holdings PLC bought a new stake in MoneyLion in the fourth quarter valued at $205,000. B. Riley Wealth Advisors Inc. acquired a new position in MoneyLion during the fourth quarter worth $248,000. Finally, Intellectus Partners LLC acquired a new position in MoneyLion during the fourth quarter worth $334,000. Institutional investors own 31.43% of the company's stock.

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.