Sezzle price target raised to $150 from $119 at Northland

Northland raised the firm’s price target on Sezzle to $150 from $119 and keeps an Outperform rating on the shares after the company announced a bank partnership with WebBank. WebBank is a Utah chartered bank and will be Sezzle’s exclusive bank partner for originating Pay-in-2 and Pay-in-4 products and exclusive issuer for all subscription products including the Sezzle Virtual Card, the analyst tells investors in a research note. The firm says a bank sponsor partner allows Sezzle to launch on-demand, unified fees, and a streamlined regulatory approach, as well as launch additional products that can be assisted by the bank sponsorship including checking accounts, cash advances, and credit building products. It believes “this a very positive development,” allowing a national versus state by state approach.