StoneX has raised its price target on Securitize (NYSE: SECZ) by 50%, to $18 from $12, while maintaining a Buy rating on the tokenization company as it expands into operating blockchain-based securities markets.

The revised target follows the launch of Securitize Stocks. Shares traded near $13.83 in premarket trading on October 12, leaving them roughly 30% below the analyst's new target. StoneX's upgrade reflects expectations that SECZ can capture more value from trading infrastructure rather than relying primarily on tokenization services. Tokenization refers to representing traditional assets, such as company shares, as digital tokens recorded on a blockchain.

StoneX Sees a Market Operator Valued as a Tokenization Vendor

StoneX lifted its target after Securitize launched a platform for trading tokenized U.S. stocks on the Solana blockchain, according to Investing.com's report on the analyst update. The analyst said the company had "evolved into a market operator" but was "still being valued as a tokenization vendor." The assessment suggests StoneX believes investors may be underestimating SECZ's expanding role in securities trading.

A market operator can potentially earn revenue from services beyond issuing tokenized assets, including trading, brokerage and post-trade infrastructure — the fee streams that established exchanges have traditionally relied on. That could broaden SECZ's business model if transaction activity grows and the platform attracts more issuers and investors. The $18 target, however, remains an analyst estimate rather than a guaranteed future share price, and its assumptions depend on execution and market adoption.

Securitize Stocks Brings 12 U.S. Equities Onchain

Securitize announced its tokenized stock trading platform on October 8, offering blockchain-based exposure to 12 major U.S. companies, including Apple, Nvidia, Microsoft and Tesla. According to Reuters' report on the launch, the platform operates through SECZ's regulated broker-dealer and uses Solana infrastructure.

The launch extends tokenized equities to eligible U.S. investors, widening a market that had previously focused heavily on access outside the United States. The company says its tokenized stocks are backed by the underlying shares and provide associated economic and shareholder rights. That distinction matters because tokenized securities are not necessarily the same as synthetic tokens that simply track stock prices. Investor eligibility, custody, trading arrangements and applicable securities rules remain important, so broader blockchain access does not remove traditional regulatory obligations.

Financial Results Show Growth Alongside Profitability Challenges

Securitize's latest reported financial results provide important context for StoneX's valuation outlook. In its second-quarter 2026 earnings release filed with the SEC, the company reported $4.3 billion in tokenized assets under management, up 16% year over year, and $5.3 billion in aggregate transaction volume, an increase of 147%. Quarterly revenue, however, declined 5% to $14.4 million, and the company recorded a net loss of $21.7 million.

The figures highlight the difference between growing platform activity and improving profitability. Higher transaction volumes could support SECZ's transition toward market operations, where revenue is tied to trading activity and related services, but revenue growth and cost management will determine whether that expansion creates sustainable earnings. Investors will therefore look for evidence that the newer trading services generate additional revenue rather than simply increasing operating expenses.

Regulatory Approvals Could Support Market Expansion

Securitize's regulated infrastructure is another factor behind its potential valuation as a market operator. The company reported its broker-dealer received expanded capabilities from the Financial Industry Regulatory Authority (FINRA), including permission to custody tokenized securities and support settlement between tokenized securities and stablecoins — digital tokens typically pegged to fiat currencies such as the U.S. dollar. It has also partnered with Computershare and Continental Stock Transfer & Trust to develop issuer-sponsored tokenized shares.

The broader opportunity depends on whether regulators and market participants allow blockchain-based securities to integrate more deeply with established financial markets. SECZ has said it expects its tokenized stocks to become available through additional trading venues, including a planned New York Stock Exchange platform. Availability on such a venue would place tokenized shares alongside conventional listed securities, reflecting the gradual integration of blockchain-based instruments with traditional market infrastructure.

For shareholders the key question is whether these developments translate into recurring revenue, wider adoption and improved profitability, supporting the higher valuation StoneX has proposed.