These Analysts Revise Their Forecasts On Securitize Following Q3 Results

Securitize Corp (NYSE:SECZ) on Monday reported mixed results for the third quarter and announced a $50 million buyback plan.

Securitize reported quarterly losses of 41 cents per share which missed the analyst consensus estimate of losses of 26 cents per share. The company reported quarterly sales of $18.610 million which beat the analyst consensus estimate of $17.561 million.

“In the third quarter we listed on the New York Stock Exchange and reached a Company-record $5 billion in Average Tokenized Assets, up 39% from a year ago,” said Carlos Domingo, Chairman and CEO of Securitize. “That growth came from tier one asset managers bringing real products onchain including new ones from ARK Invest, BlackRock and Neuberger, and to me it’s the clearest sign yet that institutions are past the experimenting stage.”

Securitize shares gained 39.3% to trade at $9.69 on Tuesday.

These analysts made changes to their price targets on Securitize following earnings announcement.

• Rosenblatt analyst Chris Brendler maintained the stock with a Buy and lowered the price target from $13 to $12.
• Needham analyst John Todaro maintained the stock with a Buy and raised the price target from $11 to $13.
• Citigroup analyst Peter Christiansen upgraded Securitize from Neutral to Buy and maintained the price target of $14.

Considering buying SECZ stock? Here’s what analysts think:

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