GreenSky (NASDAQ:GSKY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, Zacks.com reports. The firm currently has a $13.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 11.97% from the company’s current price.
According to Zacks, “GreenSky Inc. operates as a technology company. It offers proprietary technology infrastructure platform to supports the full transaction lifecycle, including credit application, underwriting and real-time allocation. The company’s proprietary technology powered platform enables merchants to offer frictionless promotional payment options to consumers, driving increased sales volume and accelerated cash flow. GreenSky Inc. is headquartered in Atlanta, Georgia. “
A number of other brokerages have also recently commented on GSKY. Guggenheim cut GreenSky from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $13.75 to $13.76 in a research report on Wednesday, May 8th. SunTrust Banks boosted their price target on Constellation Brands from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Monday, July 1st. JPMorgan Chase & Co. boosted their price target on LYFT from $82.00 to $86.00 in a research report on Wednesday, May 8th. Finally, Citigroup dropped their price target on UnitedHealth Group from $288.00 to $247.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $16.44.
GreenSky (NASDAQ:GSKY) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. GreenSky had a negative return on equity of 120.94% and a net margin of 6.27%. The firm had revenue of $103.70 million for the quarter, compared to analysts’ expectations of $103.46 million. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. As a group, research analysts forecast that GreenSky will post 0.75 earnings per share for the current fiscal year.
In related news, Director Gregg Steven Freishtat sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $16.06, for a total value of $48,180.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 54.81% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Morgan Stanley boosted its stake in GreenSky by 84.2% in the 3rd quarter. Morgan Stanley now owns 105,807 shares of the company’s stock valued at $1,905,000 after purchasing an additional 48,369 shares during the period. Bank of New York Mellon Corp boosted its stake in GreenSky by 297.4% in the 4th quarter. Bank of New York Mellon Corp now owns 127,829 shares of the company’s stock valued at $1,223,000 after purchasing an additional 95,660 shares during the period. Royce & Associates LP bought a new stake in GreenSky in the 4th quarter valued at $55,000. Advisor Group Inc. boosted its stake in GreenSky by 140.1% in the 4th quarter. Advisor Group Inc. now owns 3,446 shares of the company’s stock valued at $34,000 after purchasing an additional 2,011 shares during the period. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in GreenSky in the 4th quarter valued at $3,828,000. Institutional investors own 32.41% of the company’s stock.
GreenSky Company Profile
GreenSky, Inc, a technology company, provides point-of-sale financing and payment solutions to merchants, consumers, and banks. It offers a proprietary technology infrastructure that support the full transaction lifecycle, including credit application, underwriting, real-time allocation to bank partners, document distribution, funding, settlement, and servicing functions.
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