Securitize (NYSE:SECZ) Price Target Raised to $13.00

Securitize (NYSE:SECZ) had its target price upped by investment analysts at Needham & Company LLC from $11.00 to $13.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC‘s price target indicates a potential upside of 88.62% from the company’s current price.

SECZ has been the subject of a number of other research reports. Citizens Jmp upped their price target on Securitize from $15.00 to $17.00 and gave the stock a “market outperform” rating in a report on Friday, October 9th. Cantor Fitzgerald started coverage on shares of Securitize in a research note on Monday, September 21st. They set an “overweight” rating and a $21.20 price objective on the stock. Weiss Ratings assumed coverage on shares of Securitize in a research report on Friday, September 25th. They set a “sell (d-)” rating on the stock. Wall Street Zen downgraded shares of Securitize to a “strong sell” rating in a research note on Saturday, September 5th. Finally, Rosenblatt Securities decreased their target price on shares of Securitize from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $14.53.

Securitize Price Performance

Shares of NYSE SECZ opened at $6.89 on Tuesday. Securitize has a 1-year low of $5.14 and a 1-year high of $17.01. The stock has a market capitalization of $1.13 billion, a P/E ratio of -2.78 and a beta of 0.61. The stock has a 50-day moving average of $10.04.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Western Wealth Management LLC purchased a new position in Securitize in the third quarter valued at about $210,000. Harbour Investments Inc. acquired a new stake in Securitize during the 3rd quarter valued at approximately $201,000. Money Concepts Capital Corp purchased a new stake in Securitize during the 3rd quarter worth approximately $245,000. Mitsubishi UFJ Financial Group Inc. purchased a new stake in Securitize during the 3rd quarter worth approximately $9,492,000. Finally, Brighton Jones LLC purchased a new stake in Securitize during the 3rd quarter worth approximately $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

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.