Securitize (NYSE:SECZ) Stock Rating Raised to Buy at Citigroup

Securitize (NYSE:SECZ) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $14.00 target price on the stock. Citigroup‘s target price would suggest a potential upside of 103.13% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Zacks Research upgraded shares of Securitize to a “hold” rating in a report on Tuesday, September 22nd. Wall Street Zen downgraded Securitize to a “strong sell” rating in a report on Saturday, September 5th. Benchmark decreased their price objective on shares of Securitize from $16.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 17th. Needham & Company LLC began coverage on shares of Securitize in a research note on Tuesday, September 8th. They set a “buy” rating and a $11.00 target price on the stock. Finally, 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 on the stock. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.20.

Securitize Stock Performance

NYSE:SECZ opened at $6.89 on Tuesday. The company’s 50 day moving average is $10.04. Securitize has a fifty-two week low of $5.14 and a fifty-two week high of $17.01. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -2.78 and a beta of 0.61.

Securitize (NYSE:SECZ) last announced its quarterly earnings results on Monday, November 9th. The company reported ($0.41) earnings per share for the quarter. As a group, equities research analysts forecast that Securitize will post -0.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Securitize

A number of hedge funds and other institutional investors have recently modified their holdings of SECZ. Western Wealth Management LLC purchased a new position in shares of Securitize during the third quarter valued at about $210,000. Harbour Investments Inc. bought a new position in shares of Securitize during the 3rd quarter valued at approximately $201,000. Money Concepts Capital Corp purchased a new stake in shares of Securitize in the third quarter valued at $245,000. Brighton Jones LLC bought a new stake in Securitize in the third quarter worth about $146,000. Finally, Mitsubishi UFJ Financial Group Inc. bought a new stake in shares of Securitize during the 3rd quarter worth approximately $9,492,000.

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.