State Street Global Advisors Takes Strategic Stake in Leading Australian Fintech Platform Raiz
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 25 2024
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Source: Newsfilter
Strategic Investment: State Street Global Advisors has made a strategic investment in Raiz Invest Limited, acquiring approximately 5% of its share capital to enhance financial literacy and investment education for Australian retail investors.
Collaboration Benefits: The partnership aims to leverage State Street's market expertise and resources with Raiz's mobile platform, providing innovative savings and investment insights to help Australians manage their investments and prepare for retirement.
Analyst Views on STT
Wall Street analysts forecast STT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for STT is 142.27 USD with a low forecast of 128.00 USD and a high forecast of 168.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
7 Buy
4 Hold
1 Sell
Moderate Buy
Current: 128.460
Low
128.00
Averages
142.27
High
168.00
Current: 128.460
Low
128.00
Averages
142.27
High
168.00
About STT
State Street Corporation is a financial holding company. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors. It operates through two lines of business: Investment Servicing and Investment Management. Its Investment Servicing line of business provides a range of services and market and financing solutions to institutional clients, including mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, investment managers, foundations and endowments worldwide. Through State Street Investment Services, State Street Markets and State Street Alpha, it offers a range of solutions, including transaction management, derivatives, collateral services, and others. Investment Management line of business provides a range of investment management solutions and products through State Street Investment Management.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
