MoneyLion (ML) PT Raised to $100 at Needham

November 8, 2024 7:39 AM EST
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Price: $85.90 --0%

Rating Summary:
    6 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 20 | New: 25
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(Updated - November 8, 2024 8:35 AM EST)

Needham analyst Kyle Peterson raised the price target on MoneyLion (NYSE: ML) to $100.00 (from $70.00) while maintaining a Buy rating.

The analyst commented: " ML posted strong 3Q results, with revenue coming in largely in-line with Street expectations but EBITDA coming in well above consensus. More importantly, the company provided a 4Q guide that was well above consensus, citing strengthening momentum in the enterprise business which we view as a crucial piece of the long-term investment thesis. While the shares experienced a healthy rally in response to the results, ML shares continue to trade at a discounted valuation relative to peers (~6.7x EV/FY25 EBITDA). Given the valuation, impressive growth, and healthy margins, we remain bullish and continue to recommend the stock for small-cap growth investors. We are reiterating our BUY rating and raising our target to $100. ML continues to occupy our slot on the Needham Conviction List."


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