Rosenblatt Securities Issues Pessimistic Forecast for Securitize (NYSE:SECZ) Stock Price

Securitize (NYSE:SECZ – Get Free Report) had its price target decreased by equities research analysts at Rosenblatt Securities from $13.00 to $12.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities‘s price target would suggest a potential upside of 74.11% from the company’s current price.

Other research analysts also recently issued reports about the stock. Cantor Fitzgerald began coverage on shares of Securitize in a research note on Monday, September 21st. They set an “overweight” rating and a $21.20 price target on the stock. Zacks Research upgraded shares of Securitize to a “hold” rating in a research report on Tuesday, September 22nd. Citizens Jmp upped their price objective on shares of Securitize from $15.00 to $17.00 and gave the company a “market outperform” rating in a research note on Friday, October 9th. Wall Street Zen lowered shares of Securitize to a “strong sell” rating in a report on Saturday, September 5th. Finally, Citigroup upgraded shares of Securitize from a “neutral” rating to a “buy” rating and set a $14.00 target price 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.20.

Check Out Our Latest Report on Securitize

Securitize Stock Down 1.0%

Shares of SECZ stock opened at $6.89 on Tuesday. 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 fifty day simple moving average of $10.04. Securitize has a 52-week low of $5.14 and a 52-week high of $17.01.

Securitize (NYSE:SECZ – Get Free Report) last posted its quarterly earnings data on Monday, November 9th. The company reported ($0.41) earnings per share for the quarter. Sell-side analysts predict that Securitize will post -0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Securitize

Large investors have recently made changes to their positions in the business. Mitsubishi UFJ Financial Group Inc. purchased a new position in Securitize during the third quarter valued at $9,492,000. J. Derek Lewis & Associates Inc. purchased a new position in shares of Securitize during the third quarter valued at approximately $439,000. Money Concepts Capital Corp bought a new position in shares of Securitize during the 3rd quarter valued at $245,000. Western Wealth Management LLC purchased a new position in Securitize in the third quarter worth about $210,000. Finally, Harbour Investments Inc. bought a new stake in shares of Securitize during the 3rd quarter valued at about $201,000.

Trending Headlines about 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

About Securitize

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Securitize (NYSE:SECZ)

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