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

MoneyLion (NYSE:ML)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $100.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 15.87% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer upgraded shares of MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Thursday, November 7th. Northland Capmk upgraded shares of MoneyLion to a “strong-buy” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald raised shares of MoneyLion to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Northland Securities raised their price target on MoneyLion from $60.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $95.00.

MoneyLion Stock Performance

NYSE:ML opened at $86.30 on Tuesday. The stock has a 50-day simple moving average of $53.20 and a two-hundred day simple moving average of $62.32. MoneyLion has a 52-week low of $36.26 and a 52-week high of $106.82. The firm has a market capitalization of $957.93 million, a PE ratio of 392.27 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 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 completion of the sale, the insider now directly owns 103,133 shares of the company’s stock, valued at $7,219,310. This trade represents a 5.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Diwakar Choubey sold 5,422 shares of MoneyLion stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $90.02, for a total transaction of $488,088.44. Following the sale, the chief executive officer now directly owns 710,958 shares in the company, valued at approximately $64,000,439.16. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,680 shares of company stock valued at $4,120,514 in the last ninety days. Company insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On MoneyLion

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its holdings in shares of MoneyLion by 52.1% in the 3rd quarter. Barclays PLC now owns 13,821 shares of the company’s stock valued at $575,000 after purchasing an additional 4,735 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of MoneyLion by 5.8% during the third quarter. Geode Capital Management LLC now owns 167,197 shares of the company’s stock worth $6,948,000 after buying an additional 9,106 shares during the period. State Street Corp raised its stake in shares of MoneyLion by 3.1% during the third quarter. State Street Corp now owns 169,694 shares of the company’s stock worth $7,051,000 after purchasing an additional 5,108 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of MoneyLion during the 3rd quarter worth approximately $40,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of MoneyLion during the 3rd quarter worth $574,000. Hedge funds and other institutional investors 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.