Northland Securities Issues Positive Forecast for MoneyLion (NYSE:ML) Stock Price

MoneyLion (NYSE:ML) had its price target boosted by Northland Securities from $60.00 to $80.00 in a research note released on Friday morning,Benzinga reports. Northland Securities currently has an outperform rating on the stock.

A number of other analysts have also weighed in on ML. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price target on shares of MoneyLion in a research note on Friday, October 4th. Cantor Fitzgerald raised MoneyLion to a “strong-buy” rating in a research note on Thursday, October 3rd. Oppenheimer raised MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Thursday. Finally, Northland Capmk upgraded shares of MoneyLion to a “strong-buy” rating in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $90.71.

MoneyLion Stock Performance

Shares of ML traded up $11.68 during midday trading on Friday, hitting $80.92. 505,263 shares of the stock traded hands, compared to its average volume of 165,876. MoneyLion has a 1-year low of $25.16 and a 1-year high of $106.82. The firm has a market capitalization of $887.69 million, a PE ratio of 1,156.71 and a beta of 2.67. The business’s 50 day moving average price is $44.29 and its two-hundred day moving average price is $61.56.

MoneyLion (NYSE:ML) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.27. The company had revenue of $130.90 million during the quarter, compared to analysts’ expectations of $127.03 million. MoneyLion had a return on equity of 0.72% and a net margin of 0.40%. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.42) earnings per share. As a group, equities research analysts forecast that MoneyLion will post 1.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other MoneyLion news, insider Timmie Hong sold 2,334 shares of MoneyLion stock in a transaction that occurred on Monday, September 16th. The shares were 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Richard Correia sold 13,138 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $45.10, for a total transaction of $592,523.80. Following the completion of the transaction, the chief financial officer now directly owns 219,187 shares in the company, valued at $9,885,333.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the insider now owns 105,857 shares in the company, valued at approximately $4,481,985.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,848 shares of company stock worth $2,764,307 over the last ninety days. 11.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP lifted its position in shares of MoneyLion by 24.1% during 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 period. Vanguard Group Inc. raised its stake in shares of MoneyLion by 1.4% in the first quarter. Vanguard Group Inc. now owns 232,591 shares of the company’s stock valued at $16,588,000 after acquiring an additional 3,107 shares during the last quarter. Driehaus Capital Management LLC raised its position in MoneyLion by 77.1% in the 2nd quarter. Driehaus Capital Management LLC now owns 221,488 shares of the company’s stock valued at $16,288,000 after purchasing an additional 96,433 shares during the last quarter. Renaissance Technologies LLC boosted its stake in MoneyLion by 64.2% in the second quarter. Renaissance Technologies LLC now owns 214,129 shares of the company’s stock worth $15,747,000 after purchasing an additional 83,700 shares in the last quarter. Finally, Divisadero Street Capital Management LP acquired a new position in MoneyLion during the 2nd quarter worth about $13,427,000. Institutional investors own 31.43% of the company’s stock.

About MoneyLion

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.