Securitize (NYSE:SECZ) Shares Gap Up Following Analyst Upgrade

Securitize Holdings (NYSE:SECZ) shares gapped up prior to trading on Tuesday after Needham & Company LLC raised their price target on the stock from $11.00 to $13.00. The stock had previously closed at $6.97, but opened at $8.89. Needham & Company LLC currently has a buy rating on the stock. Securitize shares last traded at $9.6570, with a volume of 4,608,358 shares.

SECZ has been the subject of a number of other research reports. Citigroup upgraded Securitize from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a report on Tuesday. Cantor Fitzgerald assumed coverage on Securitize in a report on Monday, September 21st. They set an “overweight” rating and a $21.20 price target on the stock. Wall Street Zen lowered Securitize to a “strong sell” rating in a research report on Saturday, September 5th. Benchmark reduced their price target on shares of Securitize from $16.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, August 17th. Finally, Rosenblatt Securities decreased their price target on shares of Securitize from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.53.

Securitize News Roundup

Here are the key news stories impacting Securitize this week:

• Positive Sentiment: Citigroup upgraded SECZ from Neutral to Buy with a $14 price target, and Needham raised its target from $11 to $13 while maintaining a Buy rating. Rosenblatt lowered its target from $13 to $12 but kept its Buy rating. Citigroup rating Needham rating Rosenblatt rating
• Positive Sentiment: Securitize agreed to acquire River One, adding institutional asset-backed lending and warehouse-financing capabilities to its tokenization platform. The deal aims to connect stablecoin capital with traditional lending, opening a path into a market the company describes as worth $6 trillion; terms were not disclosed. River One acquisition announcement
• Positive Sentiment: The company also announced a $50 million share-repurchase program, which could provide support for the stock. Q3 results and repurchase announcement
• Positive Sentiment: Q3 revenue was $18.61 million, above the $17.6 million consensus estimate and the company’s second-highest quarterly total. Q3 revenue report
• Negative Sentiment: SECZ reported a Q3 loss of $0.41 per share, wider than the $0.22 loss analysts expected. The earnings miss may weigh on sentiment despite the revenue beat and growth initiatives. Q3 earnings report

Institutional Trading of Securitize

A number of hedge funds have recently bought and sold shares of SECZ. Brighton Jones LLC bought a new position in Securitize in the third quarter worth $146,000. Harbour Investments Inc. acquired a new stake in Securitize during the third quarter worth $201,000. Western Wealth Management LLC bought a new stake in Securitize in the 3rd quarter valued at $210,000. Money Concepts Capital Corp bought a new stake in Securitize in the 3rd quarter valued at $245,000. Finally, J. Derek Lewis & Associates Inc. bought a new stake in Securitize in the 3rd quarter valued at $439,000.

Securitize Stock Performance

The firm has a market cap of $1.59 billion, a P/E ratio of -3.95 and a beta of 0.61. The company’s 50 day simple moving average is $10.04.

Securitize (NYSE:SECZ) last announced its earnings results on Monday, November 9th. The company reported ($0.41) EPS for the quarter. The firm had revenue of $18.61 million during the quarter. On average, equities research analysts forecast that Securitize Holdings will post -0.81 earnings per share for the current year.

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.