Securitize (NYSE:SECZ) Stock Price Down 7.9% Following Analyst Downgrade

Securitize Holdings (NYSE:SECZ) shares fell 7.9% during trading on Wednesday after Citigroup downgraded the stock from a buy rating to a neutral rating. Citigroup now has a $14.00 price target on the stock, up from their previous price target of $10.00. Securitize traded as low as $10.31 and last traded at $10.31. Approximately 1,323,347 shares changed hands during trading, a decline of 55% from the average daily volume of 2,925,173 shares. The stock had previously closed at $11.19.

Other research analysts also recently issued research reports about the stock. Rosenblatt Securities upped their price objective on shares of Securitize from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Zacks Research raised Securitize to a “hold” rating in a research note on Tuesday, September 22nd. Weiss Ratings started coverage on Securitize in a report on Friday, September 25th. They set a “sell (d-)” rating for the company. Benchmark decreased their target price on Securitize from $16.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 17th. Finally, Cantor Fitzgerald assumed coverage on shares of Securitize in a research report on Monday, September 21st. They set an “overweight” rating and a $21.20 target price for the company. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.37.

Securitize Price Performance

The business’s 50-day moving average price is $9.38. The company has a market capitalization of $1.70 billion, a P/E ratio of -4.20 and a beta of -0.13.

Securitize (NYSE:SECZ) last issued its earnings results on Wednesday, August 12th. The company reported ($2.37) earnings per share for the quarter. The firm had revenue of $14.44 million during the quarter. Equities research analysts anticipate that Securitize Holdings will post -0.81 earnings per share for the current fiscal year.

About Securitize

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.