Securitize (NYSE:SECZ) Shares Gap Down on Analyst Downgrade

Securitize Holdings (NYSE:SECZ)’s stock price gapped down prior to trading on Tuesday after Citigroup downgraded the stock from a buy rating to a neutral rating. The stock had previously closed at $11.86, but opened at $11.17. Citigroup now has a $14.00 price target on the stock. Securitize shares last traded at $11.5150, with a volume of 1,025,010 shares.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC started coverage on shares of Securitize in a report on Tuesday, September 8th. They set a “buy” rating and a $11.00 target price on the stock. Zacks Research upgraded shares of Securitize to a “hold” rating in a report on Tuesday, September 22nd. Weiss Ratings assumed coverage on shares of Securitize in a research report on Friday, September 25th. They issued a “sell (d-)” rating for the company. Citizens Jmp increased 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. Finally, Cantor Fitzgerald started coverage on shares of Securitize in a research note on Monday, September 21st. They set an “overweight” rating and a $21.20 price objective on the stock. Five 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $14.37.

Securitize Price Performance

The company has a 50 day simple moving average of $9.30. The company has a market cap of $1.89 billion, a PE ratio of -4.68 and a beta of -0.13.

Securitize (NYSE:SECZ) last posted 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 during the quarter. Research analysts anticipate that Securitize Holdings will post -0.81 earnings per share 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.