MoneyLion (ML – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Kyle Peterson from Needham reiterated a Buy rating on the stock and has a $100.00 price target.
Kyle Peterson has given his Buy rating due to a combination of factors including MoneyLion’s impressive first-quarter performance, which surpassed expectations in both revenue and earnings. The company’s consumer segment saw a significant year-over-year growth, and its disciplined approach to expenses and credit costs contributed to a notable beat. Furthermore, MoneyLion managed to add 1.5 million new customers during the quarter while also achieving its first GAAP profitability since its public debut, a balance that underscores its ability to grow without compromising on profit margins.
Peterson’s optimism extends to the near future as MoneyLion provided a second-quarter guidance that exceeds consensus expectations. In light of these strong results, Peterson has increased his financial estimates for the company. His bullish stance is supported by the company’s solid start to the year, and he continues to advocate for MoneyLion’s stock among small-cap growth investors. Consequently, he stands by his Buy rating and has elevated his price target to $100, indicating a positive outlook for the company’s share performance.
According to TipRanks, Peterson is a 4-star analyst with an average return of 9.1% and a 55.56% success rate. Peterson covers the Industrials sector, focusing on stocks such as TriNet Group, Equifax, and TransUnion.
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MoneyLion (ML) Company Description:
Fusion Acquisition Corp is a blank check company.
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