Needham & Company LLC Boosts MoneyLion (NYSE:ML) Price Target to $100.00

MoneyLion (NYSE:ML) had its price objective upped by Needham & Company LLC from $90.00 to $100.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

ML has been the topic of several other research reports. Lake Street Capital lifted their price objective on MoneyLion from $75.00 to $109.00 and gave the stock a buy rating in a report on Monday, April 15th. TheStreet raised MoneyLion from a d rating to a c- rating in a research note on Thursday, March 7th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, MoneyLion has an average rating of Buy and an average target price of $78.60.

MoneyLion Stock Performance

Shares of MoneyLion stock traded up $0.40 on Wednesday, hitting $78.04. The company had a trading volume of 29,985 shares, compared to its average volume of 168,276. The stock has a market capitalization of $820.98 million, a price-to-earnings ratio of -16.25 and a beta of 2.68. The stock has a 50 day moving average of $68.77 and a 200-day moving average of $53.08. MoneyLion has a 1 year low of $9.73 and a 1 year high of $87.00.

MoneyLion (NYSE:ML) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.89. MoneyLion had a negative return on equity of 11.19% and a negative net margin of 10.69%. The business had revenue of $121.00 million during the quarter, compared to analyst estimates of $116.32 million. During the same period in the prior year, the company earned ($1.29) earnings per share. MoneyLion’s revenue was up 29.1% compared to the same quarter last year. Equities analysts anticipate that MoneyLion will post -0.06 earnings per share for the current year.

Insider Transactions at MoneyLion

In related news, CEO Diwakar Choubey sold 9,338 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $72.87, for a total value of $680,460.06. Following the completion of the transaction, the chief executive officer now directly owns 796,024 shares in the company, valued at approximately $58,006,268.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Jeff Gary sold 945 shares of the company’s stock in a transaction 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 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 available at the SEC website. Also, CEO Diwakar Choubey sold 9,338 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 796,024 shares of the company’s stock, valued at $58,006,268.88. The disclosure for this sale can be found here. Insiders have sold a total of 149,111 shares of company stock valued at $9,789,064 in the last ninety days. 14.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Manatuck Hill Partners LLC bought a new position in shares of MoneyLion during the 3rd quarter valued at about $1,407,000. EAM Investors LLC bought a new position in shares of MoneyLion during the 3rd quarter valued at about $1,145,000. Russell Investments Group Ltd. bought a new position in shares of MoneyLion during the 1st quarter valued at about $3,110,000. HighTower Advisors LLC boosted its holdings in shares of MoneyLion by 15.8% during the 3rd quarter. HighTower Advisors LLC now owns 37,346 shares of the company’s stock valued at $808,000 after purchasing an additional 5,100 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of MoneyLion during the 4th quarter valued at about $1,251,000. 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.