On October 13, 2026, Citi analyst Pete Christiansen downgraded Securitize (NYSE: SECZ) from Buy to Neutral. Despite the rating change, the price target was increased from $10 to $14.
The downgrade stems from concerns regarding the company's ability to monetize the growing tokenization market. While average assets under management rose 16% year-over-year to $4.3 billion and transaction volume grew 147% to $5.3 billion in the second quarter of 2026, revenue figures declined.
Tokenization revenue for the second quarter fell 12% from the previous quarter to $7.8 million, while total revenue dropped 5% to $14.4 million. Consequently, Securitize lowered its full-year 2026 revenue guidance to a range of $70 million to $80 million.
Christiansen highlighted three primary risks: the recent rise in share price, potential selling pressure from expiring lockup agreements, and uncertainty regarding the platform's long-term monetization strategy. Additionally, the company reported an adjusted EBITDA loss of $5.5 million for the quarter.
