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

Securitize Holdings (NYSE:SECZ)’s share 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 traded.

Several other research analysts have also commented on the stock. Wall Street Zen lowered shares of Securitize to a “strong sell” rating in a research note on Saturday, September 5th. Rosenblatt Securities raised their target price 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. Benchmark cut their price target on shares of Securitize from $16.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, August 17th. Weiss Ratings started coverage on shares of Securitize in a report on Friday, September 25th. They issued a “sell (d-)” rating on the stock. Finally, Zacks Research raised Securitize to a “hold” rating in a research report on Tuesday, September 22nd. 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. Based on data from MarketBeat, Securitize presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.37.

Securitize Stock Performance

The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -4.68 and a beta of -0.13. The business has a fifty day moving average price of $9.30.

Securitize (NYSE:SECZ) last issued its quarterly 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. On average, equities analysts forecast that Securitize Holdings will post -0.81 EPS for the current 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.