StoneX sees 111% upside for Securitize shares as tokenization revenue rebounds

What happened

StoneX reiterated its Buy rating on Securitize and an $18 price target, which implies roughly 111% upside from the shares’ $8.53 Tuesday close. The firm cited third-quarter revenue of $18.6 million and a 46% sequential rebound in tokenization revenue, and forecast revenue rising to $167.9 million in 2028.

Confirmed

Global impact / market context

StoneX’s forecast depends on tokenized assets on Securitize’s platform growing toward $12 billion by 2028. If new fund launches, tokenized stock expansion, and distribution agreements deliver that growth, higher platform activity could lift revenue; weaker adoption would leave forecasts harder to achieve.

Analyst inference

The article describes tokenized equities as a possible growth avenue, while noting that only about 0.002% of the stated $169 trillion global equities market is onchain, meaning recorded on a blockchain. That gap suggests potential scale, but does not establish future demand or revenue.

Confirmed

What to watch

1. Compare future reported revenue with StoneX’s forecasts of $72.4 million in 2026, $108.2 million in 2027, and $167.9 million in 2028. Analyst inference
2. Track average tokenized assets against StoneX’s expectation of nearly $12 billion by 2028; slower growth would weaken a key assumption behind its revenue outlook. Analyst inference
3. Watch whether Securitize launches new funds, expands Securitize Stocks, and secures the South Korean distribution agreements cited as drivers of projected growth. Analyst inference

Evidence

• theblock.co