MoneyLion (NYSE:ML) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of MoneyLion (NYSE:ML) in a research report released on Friday morning, Benzinga reports. They currently have a $70.00 target price on the stock.

A number of other equities analysts also recently weighed in on the stock. Oppenheimer assumed coverage on shares of MoneyLion in a research note on Tuesday. They set a market perform rating on the stock. B. Riley reaffirmed a buy rating and set a $133.00 price target on shares of MoneyLion in a research report on Tuesday, June 25th. Finally, Cantor Fitzgerald raised MoneyLion to a strong-buy rating in a research report on Thursday. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MoneyLion currently has a consensus rating of Buy and an average price target of $95.00.

MoneyLion Price Performance

MoneyLion stock traded up $2.61 during mid-day trading on Friday, hitting $39.64. 185,463 shares of the company were exchanged, compared to its average volume of 200,812. MoneyLion has a 12-month low of $17.40 and a 12-month high of $106.82. The company has a market capitalization of $416.93 million, a P/E ratio of -13.67 and a beta of 2.69. The business’s 50 day simple moving average is $46.29 and its two-hundred day simple moving average is $66.10.

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

Insiders Place Their Bets

In other MoneyLion news, CEO Diwakar Choubey sold 17,647 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $86.56, for a total transaction of $1,527,524.32. Following the completion of the sale, the chief executive officer now owns 736,513 shares in the company, valued at $63,752,565.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Diwakar Choubey sold 17,647 shares of the business’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 completion of the transaction, the chief executive officer now owns 736,513 shares in the company, valued at $63,752,565.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Timmie Hong sold 7,535 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $83.99, for a total value of $632,864.65. Following the completion of the sale, the insider now directly owns 115,697 shares in the company, valued at $9,717,391.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,737 shares of company stock valued at $4,028,078 in the last quarter. Insiders own 14.10% of the company’s stock.

Institutional Trading of MoneyLion

Several large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP boosted its holdings in shares of MoneyLion by 24.1% in the second quarter. Marshall Wace LLP now owns 240,352 shares of the company’s stock valued at $17,675,000 after acquiring an additional 46,611 shares in the last quarter. Vanguard Group Inc. lifted its holdings 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 buying an additional 3,107 shares during the period. Driehaus Capital Management LLC boosted its stake in MoneyLion by 77.1% during the second 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 grew its holdings in MoneyLion by 64.2% during the second quarter. Renaissance Technologies LLC now owns 214,129 shares of the company’s stock worth $15,747,000 after acquiring an additional 83,700 shares during the period. Finally, Divisadero Street Capital Management LP acquired a new stake in MoneyLion in the 2nd quarter valued at about $13,427,000. 31.43% of the stock is currently owned by institutional investors and hedge funds.

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.