Needham & Company LLC Reaffirms “Buy” Rating for MoneyLion (NYSE:ML)

MoneyLion (NYSE:ML)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They currently have a $100.00 target price on the stock. Needham & Company LLC’s price target indicates a potential upside of 15.53% from the stock’s current price.

ML has been the subject of a number of other research reports. Cantor Fitzgerald raised MoneyLion to a “strong-buy” rating in a report on Thursday, October 3rd. Northland Capmk raised shares of MoneyLion to a “strong-buy” rating in a research report on Wednesday, October 16th. Oppenheimer raised shares of MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Thursday, November 7th. Finally, Northland Securities raised their target price on shares of MoneyLion from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, MoneyLion presently has a consensus rating of “Buy” and a consensus price target of $97.86.

MoneyLion Price Performance

Shares of ML stock opened at $86.56 on Tuesday. The business has a fifty day moving average of $54.08 and a 200 day moving average of $62.36. MoneyLion has a 1 year low of $36.26 and a 1 year high of $106.82. The firm has a market capitalization of $960.82 million, a price-to-earnings ratio of 393.45 and a beta of 2.67.

Insider Activity at MoneyLion

In other MoneyLion news, insider Adam Vanwagner sold 6,165 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $70.00, for a total value of $431,550.00. Following the sale, the insider now directly owns 103,133 shares of the company’s stock, valued at approximately $7,219,310. This trade represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Diwakar Choubey sold 5,422 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $90.02, for a total value of $488,088.44. Following the transaction, the chief executive officer now directly owns 710,958 shares of the company’s stock, valued at approximately $64,000,439.16. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,680 shares of company stock worth $4,120,514 in the last three months. Company insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On MoneyLion

A number of institutional investors have recently added to or reduced their stakes in ML. Covestor Ltd boosted its holdings in MoneyLion by 63.6% in the 3rd quarter. Covestor Ltd now owns 656 shares of the company’s stock worth $27,000 after buying an additional 255 shares during the last quarter. ClariVest Asset Management LLC boosted its stake in shares of MoneyLion by 2.6% in the second quarter. ClariVest Asset Management LLC now owns 10,175 shares of the company’s stock worth $748,000 after acquiring an additional 257 shares during the last quarter. FMR LLC increased its position in shares of MoneyLion by 154.6% during the third quarter. FMR LLC now owns 1,049 shares of the company’s stock worth $44,000 after purchasing an additional 637 shares in the last quarter. Point72 DIFC Ltd acquired a new position in MoneyLion in the 3rd quarter valued at $40,000. Finally, GSA Capital Partners LLP lifted its holdings in MoneyLion by 10.4% in the 3rd quarter. GSA Capital Partners LLP now owns 14,427 shares of the company’s stock valued at $599,000 after purchasing an additional 1,360 shares in the last quarter. Institutional investors and hedge funds own 31.43% of the company’s stock.

MoneyLion Company Profile

MoneyLion Inc, a financial technology company, provides personalized products and financial content for American consumers. The company's platform offers access to banking, borrowing, and investing solutions for customers. Its principal products include RoarMoney, an insured digital demand deposit account; Instacash, a cash advance product that gives customers early access to their recurring income deposits; Credit Builder Plus membership program; MoneyLion Investing, an online investment account that offers access to separately managed accounts invested based on model exchange-traded fund portfolios; Roundups, which provides features designed to encourage customers to establish good saving and investing habits; and MoneyLion Crypto, an online cryptocurrency account.