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

MoneyLion (NYSE:ML)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued on Friday, Benzinga reports. They presently have a $70.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 89.04% from the stock’s previous close.

A number of other equities research analysts also recently commented on ML. B. Riley reiterated a “buy” rating and issued a $133.00 target price on shares of MoneyLion in a research report on Tuesday, June 25th. Cantor Fitzgerald upgraded MoneyLion to a “strong-buy” rating in a research report on Thursday. Finally, Oppenheimer assumed coverage on MoneyLion in a research report on Tuesday. They set a “market perform” rating on the stock. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, MoneyLion has an average rating of “Buy” and an average target price of $95.00.

MoneyLion Stock Down 1.8 %

Shares of MoneyLion stock opened at $37.03 on Friday. The stock’s 50-day simple moving average is $46.29 and its 200-day simple moving average is $66.10. MoneyLion has a 52 week low of $17.40 and a 52 week high of $106.82. The company has a market capitalization of $389.48 million, a price-to-earnings ratio of -12.77 and a beta of 2.69.

MoneyLion (NYSE:ML) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.27. The business had revenue of $130.90 million for the quarter, compared to the consensus estimate of $127.03 million. MoneyLion had a return on equity of 0.72% and a net margin of 0.40%. The business’s revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.42) earnings per share. On average, equities analysts expect that MoneyLion will post 1.4 earnings per share for the current year.

Insider Activity

In other news, CEO Diwakar Choubey sold 17,647 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $86.56, for a total transaction of $1,527,524.32. Following the transaction, the chief executive officer now owns 736,513 shares of the company’s stock, valued at $63,752,565.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other MoneyLion news, insider Timmie Hong sold 2,334 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $42.34, for a total transaction of $98,821.56. Following the transaction, the insider now directly owns 105,857 shares in the company, valued at approximately $4,481,985.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Diwakar Choubey sold 17,647 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $86.56, for a total value of $1,527,524.32. Following the transaction, the chief executive officer now owns 736,513 shares in the company, valued at $63,752,565.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,737 shares of company stock valued at $4,028,078. 14.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP grew its position in shares of MoneyLion by 24.1% in the 2nd quarter. Marshall Wace LLP now owns 240,352 shares of the company’s stock worth $17,675,000 after buying an additional 46,611 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of MoneyLion by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 232,591 shares of the company’s stock worth $16,588,000 after purchasing an additional 3,107 shares in the last quarter. Driehaus Capital Management LLC increased its position in MoneyLion by 77.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 221,488 shares of the company’s stock valued at $16,288,000 after buying an additional 96,433 shares in the last quarter. Renaissance Technologies LLC raised its stake in MoneyLion by 64.2% in the second quarter. Renaissance Technologies LLC now owns 214,129 shares of the company’s stock valued at $15,747,000 after buying an additional 83,700 shares during the last quarter. Finally, Divisadero Street Capital Management LP acquired a new stake in MoneyLion in the second quarter worth about $13,427,000. 31.43% of the stock is currently owned by hedge funds and other institutional investors.

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.