Securitize (NYSE:SECZ) Cut to “Neutral” at Citigroup

Citigroup lowered shares of Securitize (NYSE:SECZ) from a buy rating to a neutral rating in a report issued on Tuesday, Marketbeat.com reports. Citigroup currently has $14.00 price objective on the stock, up from their prior price objective of $10.00.

Several other equities analysts have also commented on the stock. Needham & Company LLC began coverage on shares of Securitize in a report on Tuesday, September 8th. They issued a “buy” rating and a $11.00 target price on the stock. Weiss Ratings started coverage on Securitize in a report on Friday, September 25th. They set a “sell (d-)” rating for the company. Citizens Jmp upped their price objective on Securitize from $15.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Friday, October 9th. Wall Street Zen downgraded Securitize to a “strong sell” rating in a research report on Saturday, September 5th. Finally, Rosenblatt Securities raised their price objective on Securitize from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.37.

Securitize Stock Up 7.3%

Shares of Securitize stock opened at $11.32 on Tuesday. Securitize has a twelve month low of $5.14 and a twelve month high of $17.01. The business has a 50-day simple moving average of $9.52.

Securitize (NYSE:SECZ) last announced its earnings results on Wednesday, August 12th. The company reported ($2.37) earnings per share (EPS) for the quarter. The business had revenue of $14.44 million for the quarter. As a group, equities research analysts expect that Securitize will post -0.81 EPS for the current fiscal year.

Securitize Company Profile

Securitize is a financial technology company that provides infrastructure for issuing, managing and trading digital securities. Its platform uses blockchain technology to represent ownership interests in assets such as private-company shares, private credit, real estate and investment funds as digital tokens.

The company offers services for issuers, investors and financial institutions, including digital securities issuance, investor onboarding, compliance administration, transfer-agent services and secondary-market trading.